U.S. Treasury yields slump as investors continue to sweat over global economic growth concerns

The U.S. Treasury yields slumped during afternoon session Wednesday, as investors still fretted about the possibility of a near-term global economic slowdown , especially after last Friday, the yield curve between the 3-month Treasury bill and the 10-year bond inverted, a usual sign that a recession is nearing.

Investors shall divert partial focus on the country’s trade balance data for the month of January, 5-year note auction and FOMC member George’s speech, all three due today by 12:30GMT, 17:00GMT and 21:30GMT respectively.

The yield on the benchmark 10-year Treasury yield slumped 3 basis points to 2.382 percent, the super-long 30-year bond yields suffered 2-1/2 basis points to 2.843 percent and the yield on the short-term 2-year plunged nearly 5-1/2 basis points to 2.206 percent by 11:40GMT.

Further, this afternoon will bring the full trade report for January, which is expected to reveal an improvement in the headline deficit on the back of stronger goods exports, as well as balance of payments data for Q4.

Elsewhere, Fed Governor George will speak publicly, while the Treasury will sell $18 billion in 2-year floating-rate notes and $41 billion in 5-year notes. 

Meanwhile, the S&P 500 Futures edged tad lower to 2,818.12 by 11:45GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 20.85 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex