U.S. Treasuries gain despite higher-than-expected Q1 GDP; Q4 2017 GDP revised lower

The U.S Treasuries jumped Friday on expectations of a fall in the country’s gross domestic product (GDP) for the first quarter of this year, scheduled to be released today by 12:30GMT amid an otherwise, silent trading session.

The yield on the benchmark 10-year Treasuries slumped 2 basis points to 2.97 percent, the super-long 30-year bond yields also plunged 2 basis points to 3.15 percent and the yield on the short-term 2-year traded nearly 1 basis point lower at 2.48 percent by 12:35GMT.

According to the "advance" estimate released this Friday by the Bureau of Economic Analysis, the real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the first quarter of 2018, which is higher than the market expectations of 2.0 percent.

However, the reading for Q4 2017 has been revised lower to 2.3 percent, from prior 2.9 percent.

Meanwhile, the S&P 500 Futures rose 0.22 percent to 2,650.50 by 12:40GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 149.07 (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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