U.S. Treasuries surge ahead of FOMC members’ speech, 30-year bond auction in focus

The U.S. Treasuries jumped Thursday as investors remain cautious ahead of a host of speeches from the Federal Open Market Committee (FOMC) members’ later in the day. Also, the super-long 30-year bond auction remains in focus for further direction in debt market.

The yield on the benchmark 10-year Treasury note fell 4 basis points to 2.33 percent, the super-long 30-year bond yield also dipped 3-1/2 basis points to 2.92 percent and the yield on short-term 2-year note plunged 2 basis points to 1.16 percent by 12:00 GMT.

Moreover, Donald Trump in his public appearance said that he is handling over his personal businesses to his son to avoid future discrepancies. Regarding a relationship with Russia, he claimed that association with Vladimir Putin is an asset, rather than a liability.

Markets now look ahead to a lighter flow of data in the week ahead, highlighted by producer prices, retail sales, business inventories and University of Michigan consumer sentiment releases on Friday.

Meanwhile, the S&P 500 Futures traded 6.50 points lower at 2,264 by 12:05 GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -115.09 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex