U.S. Treasuries remain weak ahead of FOMC members George, Mester’s speeches

The U.S. Treasuries remained weak Tuesday ahead of the Federal Open Market Committee (FOMC) members Esther L. George and Loretta Mester’s speeches scheduled for later in the day.

The yield on the benchmark 10-year Treasury jumped 2 basis points to 2.49 percent, the super-long 30-year bond yield climbed 1-1/2 basis points to 3.10 percent and the yield on short-term 2-year note traded 1 basis point higher at 1.30 percent by 12:00GMT.

The USD remained under pressure in European trade as the less-hawkish-than-expected tone of last week’s FOMC monetary policy statement continued to have an impact.

Further, market uncertainties over the United States President Donald Trump administration’s fiscal stimulus plan prevails as no details have been released so far with investors waiting for a detailed budget plan in mid-May.

Meanwhile, the S&P 500 Futures remained fell 0.12 percent to 2,372.50 by 11:50GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -141.24 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex