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U.S. Treasuries slip ahead of June retail sales, Fed Chair Powell’s speech
The U.S. Treasuries slipped during Tuesday’s afternoon session, ahead of the country’s retail sales for the month of June and Fed Chair Jerome Powell’s speech, scheduled for today by 12:30GMT and 17:00GMT respectively.
Further, the benchmark 10-year auction, due to be held on July 18 will be eyed for further direction to the debt market.
The yield on the benchmark 10-year Treasury yield gained nearly 1 basis point to 2.099 percent, the super-long 30-year bond yields hovered around 2.614 percent and the yield on the short-term 2-year traded nearly 1-1/2 basis points higher at 1.846 percent by 11:10GMT.
It will be a busy day for key economic releases from the US, including industrial production and retail sales figures for June. Expectations are for retail sales growth to have slowed at the end of the second quarter, albeit in part due to lower gasoline prices weighing on the auto fuel component, Daiwa Capital Markets reported.
Further, manufacturing output is likely to have posted a modest increase for the second successive month, following marked weakness in the first four months of the year. This afternoon will also bring business inventories figures for May, import and export price indices for June and the NAHB housing index for July, the report added.
Meanwhile, the S&P 500 Futures remained flat at 3,017.38 by 11:15GMT
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