U.S. Treasuries climb ahead of short-term 2-year auction, 3 FOMC members’ speeches

The U.S. Treasuries climbed sharply during late afternoon session Tuesday amid a silent trading day that witnessed data of little economic significance. However, today’s 2-year Note auction, due by 17:00GMT and Federal Open Market Committee’s (FOMC) members Kashkari, Bostic and Evans will deliver their speeches by 13:30GMT, 17:30GMT and 22:15GMT respectively for further direction in the debt market.

The yield on the benchmark 10-year Treasuries slumped 4 basis points to 3.154 percent, the super-long 30-year bond yields suffered by 3 basis points to 3.350 percent and the yield on the short-term 2-year also traded 2-1/2 basis points lower at 2.887 percent by 11:00GMT.

It is set to be another quiet day for economic data, with just the Richmond Fed’s October manufacturing survey results due. In addition, the Atlanta Fed’s President Raphael Bostic, who is a voter on the FOMC this year, will speak about the US economy and monetary policy. And the Treasury will sell 2-year FRNs.

Meanwhile, the S&P 500 Futures traded 1.24 percent lower at 2,722.75 by 11:10GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 131.223 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex