U.S. Treasuries plunge amid muted trading session ahead of host of 3-tier economic data

The U.S. Treasuries plunged during Tuesday’s afternoon session amid a muted trading session that witnessed data of little economic significance. However, a host of 3-tier economic data – ADP non-farm employment, ISM non-manufacturing PMI and the labour market report, besides, other data are all due through this week which shall provide further direction to the debt market.

The yield on the benchmark 10-year Treasury yield jumped 5 basis points to 1.572 percent, the super-long 30-year bond yield also surged 5 basis points to 2.049 percent and the yield on the short-term 2-year gained nearly 4 basis points to trade at 1.391 percent by 12:30GMT.

Finally in the US, today will bring revised durable goods figures for December. These are likely to confirm the near-2-1/2 percent m/m increase seen in the preliminary release on the back of a jump in bookings for defense-related aircraft and miscellaneous transportation items, Daiwa Capital Markets reported.

Indeed, excluding transportation, durable orders were broadly flat on the month. Orders for non-durable items are expected to have increased at a more moderate pace than durable items, leaving total factory orders up a little more than 1 percent m/m, the report added.

Meanwhile, the S&P 500 Futures surged 1.21 percent to 3,284.88 by 12:35GMT.