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U.S. Treasuries remain volatile following market uncertainty ahead of President Trump’s speech

The U.S. 10-year Treasuries remained volatile Tuesday as markets behave in an uncertain way ahead of President Donald Trump’s speech scheduled for later in the day. Also, investors remain keen to focus on the upcoming fourth quarter gross domestic product (GDP), scheduled to be released on Friday.

The yield on the benchmark 10-year Treasury jumped 3 basis points to 2.43 percent, the super-long 30-year bond yield also rose nearly 3 basis points to 3.02 percent and the yield on short-term 2-year note moved 1 basis point lower to 1.18 percent by 12:30 GMT.

Besides, the TPP deal, which was signed by his predecessor Barrack Obama, Trump added that he is going to seek one-on-one trade deals with Asian countries to boost U.S. manufacturing. He also said the deals he will sign will allow the country to quickly terminate them within 30 days if somebody misbehaves or misuses them.

Further, U.S. Treasury Secretary nominee Steven Mnuchin has told senators that he would work to combat currency manipulation but would not give a clear answer on whether he currently views China as manipulating its yuan, Reuters reported, citing a Senate Finance Committee document.

Lastly, in terms of economic data, market participants remain awaited on a host of key economic events, including manufacturing PMI and existing home sales, besides, the fourth quarter GDP scheduled by end of this week.

Meanwhile, the S&P 500 Futures traded 0.50 points or 0.02 percent lower at 2,261.50 by 12:30GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -131.72 (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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