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The U.S. Treasuries surged during Tuesday’s afternoon session ahead of the country’s consumer confidence data for the month of August, scheduled to be released today by 14:00GMT and the short-term 2-year auction, also due today by 17:00GMT.
However, this the gross domestic product (GDP) for the second quarter of this year, due on August 29 will snatch the key limelight from investors, for further direction in the debt market.
The yield on the benchmark 10-year Treasury yield slumped 3 basis points to 1.513 percent, the super-long 30-year bond yield plunged nearly 4-1/2 basis points to 1.998 percent and the yield on the short-term 2-year suffered 2 basis points to 1.530 percent by 11:40GMT.
The data highlight today will be the Conference Board’s latest consumer confidence survey for August, which is expected to show the headline indicator reversing some the jump seen in July, to leave it trending broadly sideways in the year to date, Daiwa Capital Markets reported.
This afternoon will also bring the Richmond Fed’s manufacturing index for August and the FHFA and S&P CoreLogic house price index for June. In the markets, the Treasury will see 2-year notes, the report added.
Meanwhile, the S&P 500 Futures traded flat at 2,883.88 by 11:45GMT.
