U.S. Treasuries flat ahead of ADP non-farm employment report, Q2 GDP

The U.S. Treasuries traded mixed as investors await clarity on ADP non-farm employment data, scheduled to be released today by 12:15GMT, besides, the country’s Q2 GDP, due by 12:30GMT.

The yield on the benchmark 10-year gilts, rose nearly 2-1/2 basis points to 1.02 percent, the super-long 30-year bond yields also surged 2-1/2 basis points to 1.69 percent and the yield on the short-term 2-year traded 1-1/2 basis points higher at 0.17 percent by 11:00GMT.

In the US, the second estimate of Q2 GDP will be released, which is expected to see an upward revision close to 3.0 percent annualised from 2.6 percent q/q annualized. in the current estimate, not least as recent data point to stronger consumption and investment than originally thought. Ahead of Friday’s labour market report, the ADP employment data for August will also be released.

The majority of global equity markets opened higher on Wednesday and the USD recovered some ground on the back of somewhat reduced geopolitical concerns about North Korea’s firing earlier this week of a missile over Japan.

Meanwhile, the S&P 500 Futures traded 0.06 percent higher at 2,448.50 by 11:10GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -38.11 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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