U.S. Treasuries suffer ahead of FOMC member Bowman’s speech, 2-year auction

The U.S. Treasuries suffered during Monday’s afternoon session ahead of the Federal Open Market Committee (FOMC) member Bowman’s speech, scheduled to be delivered today by 15:40GMT amid a quiet start with no top-tier data due today and existing home sales figures for September the most notable release tomorrow.

The yield on the benchmark 10-year Treasury yield jumped 2-1/2 basis points to 1.775 percent, the super-long 30-year bond yield surged nearly 3-1/2 basis points to 2.280 percent and the yield on the short-term 2-year traded 1-1/2 basis points higher at 1.590 percent by 12:25GMT.

The coming week will get off to a quiet start with no top-tier data due today and existing home sales figures for September the most notable release tomorrow. Other housing market data due include the FHFA house price figures for August on Wednesday and new home sales figures for September on Thursday, Daiwa Capital Markets reported.

That day will also bring preliminary durable goods figures for September – which will likely be closely watched by the Fed – as well as the flash Markit PMIs for October and usual weekly claims numbers, the report added.

And Friday will bring the final University of Michigan consumer survey for the current month. In the markets, the Treasury will sell 2-year Notes tomorrow, 5-year Notes and 2-year FRNs on Wednesday and 7-year Notes on Thursday. There will be no Fed-speak due to the purdah period ahead of the FOMC meeting the following week, Daiwa further noted in the report.

Meanwhile, the S&P 500 Futures edged tad 0.34 percent to trade at 2,998.38 by 12:30GMT.