U.S. Treasuries rise modestly ahead of January employment report

The U.S. Treasuries rose modestly Thursday ahead of the January employment report, scheduled to be released later today, as well as on Friday.

The yield on the benchmark 10-year Treasury fell nearly 1 basis point to 2.46 percent, the super-long 30-year bond yield also slid to around 1 basis point to 3.07 percent while the yield on short-term 2-year note traded flat at 1.21 percent.

The country’s real gross domestic product (GDP) grew by 1.9 percent y/y in the fourth quarter according to the advance estimate, falling short of the median consensus estimate of 2.2 percent.

Lastly, the Trump is also scheduled to unleash his budget proposals on February 6, which is widely expected to reveal the details which markets need to further propel Trump trades.

Meanwhile, the S&P 500 Futures fell 6 points or 0.25 percent to trade at 2,268.50 by 12:00GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -122.06 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex