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U.S. Treasuries range-bound ahead of 10-year, super-long 30-year auction

The U.S. Treasuries traded tad lower Wednesday as investors wait to focus on the country’s long-term 10-year auction, scheduled to be held today by 18:00GMT. Also, the country’s 30-year note auction, due on November 9 by 18:00GMT will add further direction to the debt market.

The yield on the benchmark 10-year Treasury rose 1 basis point to 2.31 percent, the super-long 30-year bond yields also climbed 1 basis point to 2.77 percent and the yield on the short-term 2-year note too traded nearly a basis point higher at 1.63 percent by 10:45GMT.

Neither the US nor European equity markets appeared to share the enthusiasm evident in Asian markets on Tuesday, as investors awaited signs of progress on tax reform. On that score, after the US close, the Washington Post reported that Senate Republican leaders were mulling the delay of proposed corporate tax cuts for a year, together with some other changes to the House version of the Bill.

Meanwhile, the S&P 500 Futures traded flat at 2,585.75 by 10:50GMT, while at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -23.00 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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