U.S. Treasury yields flat in muted trading ahead of FOMC Chair Powell’s speech

The U.S. Treasury yields remained flat during Monday’s afternoon session, ahead of the Federal Open Market Committee’s (FOMC) Chairman Jerome Powell’s speech at the Atlanta Fed Financial Markets Conference, scheduled to be held today at 23:00GMT, besides, a host of speeches by members Clarida and Williams as well.

The yield on the benchmark 10-year Treasury yield hovered around 2.389 percent, the super-long 30-year bond yields traded flat at 2.821 percent and the yield on the short-term 2-year also traded steady at 2.204 percent by 12:45GMT.

In the US, the coming week will be lighter than of late for economic data. Today brings just the Chicago Fed National Activity indices for April, while tomorrow will bring April existing home sales data, Daiwa Capital Markets reported.

The minutes from the May FOMC policy meeting are due on Wednesday. Along with the usual weekly claims figures, Thursday will bring new home sales data for April, and the preliminary Markit PMIs and Kansas City Fed manufacturing indices for May. And the preliminary durable goods orders figures for April are due on Friday.

Lastly, in the bond market, the Treasury will sell 10-year TIPS on Thursday, the report added.

Meanwhile, the S&P 500 Futures traded nearly 1 percent lower at 2,838.12 by 12:50GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 84.33 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex