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U.S. Treasuries gain ahead of Fed Chair Powell’s speech, 2-year auction

The U.S. Treasuries gained during Tuesday’s afternoon session, ahead of a speech by Jerome Powell, the Governor of the Federal Reserve, scheduled to be delivered today by 17:00GMT, besides, a host of speeches by other members of the FOMC – Williams, Barkin and Bullard, also due later today.

Further, the short-term 2-year auction, supposed to be held at 17:00GMT, might be of some help to the market participants for added direction in the debt market.

The yield on the benchmark 10-year Treasury yield slipped 1 basis point to 2.009 percent, the super-long 30-year bond yields suffered nearly 1-1/2 basis points to 2.536 percent while the yield on the short-term 2-year traded flat at 1.732 percent by 11:40GMT.

Plenty of data related to the housing market are due, including May new home sales figures and the April FHFA and S&P CoreLogic Case Shiller indices for April. In addition, the Conference Board consumer confidence indices and Richmond Fed manufacturing survey for June are scheduled for release along with revisions to existing retail sales figures, Daiwa Capital Markets reported.

More notably perhaps, there’s plenty of Fed-speak to look forward to, after yesterday saw Dallas Fed President Robert Kaplan (a voting member of the FOMC next year) note his concern that “adding monetary stimulus, at this juncture, would contribute to a build-up of imbalances in the economy which may ultimately prove to be difficult and painful to manage”.

Most notably today, Fed Chair Powell will speak on the Economic Outlook and Monetary Policy at the Council on Foreign Relations, while Vice Chair Williams, as well as FOMC members Bullard (a dovish voter this year), and Bostic and Barkin (voters in 2021) will also speak publicly, the report added.

Meanwhile, the S&P 500 Futures traded tad -0.15 percent lower at 2,947.62 by 11:45GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -141.21 (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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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 765986765986m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 765986765986m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 777806777806m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 765986765986m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 777806777806m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 765986765986m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 765986765986m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 765986765986m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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