U.S. Treasuries slump ahead of 7-year auction, initial jobless claims

The U.S. Treasuries slumped Thursday as investors remain cautious ahead of the country’s 7-year auction, besides the initial jobless claims, scheduled to be unveiled today at 17:00GMT and 12:30GMT respectively.

The yield on the benchmark 10-year Treasury, rose 1-1/2 basis points to 2.29 percent, the super-long 30-year bond yields climbed nearly 1 basis point to 2.89 percent and the yield on short-term 2-year note traded 1 basis point higher at 1.39 percent by 10:40GMT.

Data-wise, preliminary durable goods order data for June are due along with the usual weekly claims figures. In addition, the advanced goods trade report and inventory data, also for June, which will inform tomorrow’s preliminary estimate of Q2 GDP (for which the consensus is for an acceleration to 2.5 percent annualized, from 1.4 percent q/q annualized in Q1), are also scheduled for release. In addition, the US Treasury will sell 7-year notes.

Meanwhile, the S&P 500 Futures traded 0.20 percent higher at 2,478.25 by 10:50GMT, while at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -0.53 (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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