U.S. Treasuries reverse losses in quite trading session ahead of initial jobless claims, 7-year auction

The U.S. 10-year Treasury yield hovered around the 3.00 mark during late European session Thursday, albeit remaining on the downside ahead of today’s initial jobless claims data and the 7-year note auction, also due today by 17:00GMT.

The yield on the benchmark 10-year Treasuries slumped 2 basis points to 3.00 percent, the super-long 30-year bond yields also plunged nearly 2 basis points to 3.19 percent and the yield on the short-term 2-year traded nearly 1 basis point lower at 2.48 percent by 11:20GMT.

In the US, after a quiet day for major economic indicators yesterday, the dataflow resumes today with the goods trade report and durable goods orders, both for March. Both goods imports and exports were solid in February, and a decline is on the cards this time.

But with exports looking more resilient, we might see a narrowing in the trade deficit from USD75.9 billion, the highest level since the financial crisis. Meanwhile, durable goods orders, supported by the aircraft category, are expected to have risen again last month, following a 3.0 percent m/m rise in February. 

Meanwhile, the S&P 500 Futures rose 0.22 percent to 2,650.50 by 11:20GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 50.79 (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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