U.S. Treasuries steady ahead of initial jobless claims, FOMC members’ speeches

The U.S. Treasuries steadied Thursday ahead of the country’s initial jobless claims and a host of FOMC members’ speeches scheduled for later in the day. Also, the 30-year auction, scheduled to be held today at 18:00GMT will add further direction to the debt market.

The yield on the benchmark 10-year Treasuries hovered around 2.83 percent, the super-long 30-year bond yields rose nearly 1-1/2 basis points to 3.12 percent and the yield on the short-term 2-year traded nearly 1 basis point lower at 2.12 percent by 11:00GMT.

Apart from the regular weekly jobless claims numbers, there are no notable economic data releases due in the US tomorrow. The focus will obviously remain on the markets, as well as Congress where the Senate and House will vote on yesterday’s deal in the Senate to raise the spending caps by USD300 billion over the coming two years, adding significantly to federal borrowing that was already set to rise significantly due to the tax reform.

Meanwhile, the S&P 500 Futures traded 0.25 percent lower at 2,660.75 by 11:05GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 46.55 (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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