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U.S. Treasuries steady ahead of January manufacturing, composite PMIs
The U.S. Treasuries remained steady during Friday’s afternoon session ahead of the country’s manufacturing and composite PMI for the month of January, scheduled to be released today by 14:45GMT, amid an otherwise, muted trading day that witnessed data of little economic significance.
The yield on the benchmark 10-year Treasury yield hovered around 1.743 percent, the super-long 30-year bond yield remained flat at 2.191 percent and the yield on the short-term 2-year too remained steady at 1.524 percent by 12:00GMT.
Today will also bring the market flash US PMIs for January, which are expected to show the composite PMI moving broadly sideways close to the 52.7 level – an eight-month high – reached in December, Daiwa Capital Markets reported.
The Bloomberg consensus forecast for the manufacturing PMI is for no change at an expansionary 52.4, above the average last year. And the services PMI is expected to edge up slightly to 53.0, which would be the highest since July, the report added.
Meanwhile, the S&P 500 Futures remained nearly flat at 3,333.12 by 12:05GMT.