U.S. Treasuries tad lower ahead of manufacturing PMI, FOMC speeches

The U.S. Treasuries traded tad lower as investors wait to watch the country’s ISM manufacturing PMI, scheduled to be released later today, besides the ADP non-farm employment data for July, due on August 2. Also, the FOMC members Mester and Williams’ speech, due on August 2 will provide detailed direction to the debt market.

The yield on the benchmark 10-year Treasury, rose 1/2 basis point to 2.29 percent, the super-long 30-year bond yields flat at 2.90 percent and the yield on short-term 2-year note hovered around 1.35 percent by 11:40GMT.

A busy day for US data will include the release of July’s manufacturing ISM and June’s personal income and spending figures, with the associated closely-watched deflators, as well as the latest construction spending and vehicle sales data.

It will also be a busy week for top-tier releases in the US. Likely of most interest will be Friday’s employment report, which is expected to report an increase of around 180k in July, a touch weaker than in June but bang in line with the average for the year to date. But while the unemployment rate is forecast to have edged back down to its more than 16-year low of 4.3 percent reached in May, average labour earnings are set to have remained subdued at around 2-1/2 percent y/y.

Meanwhile, the S&P 500 Futures traded 0.20 percent higher at 2,473.00 by 11:40GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 31.15 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest