• U.S. treasuries side-line ahead of Federal Open Market Committee member williams’ speech, October housing data

    Source: FxWire Pro - Commentary / 19 Nov 2019 06:48:12   America/New_York

    The U.S. Treasuries remained on the side-lines during Tuesday’s afternoon session amid a relatively quiet day ahead of FOMC member Williams’ speech, scheduled to be delivered today by 14:00GMT.

    However, the country’s building permits and housing starts for the month of October are scheduled to be released today by 13:30GMT, which shall add direction to the debt market.

    The yield on the benchmark 10-year Treasury yield jumped nearly 2 basis points to 1.826 percent, the super-long 30-year bond yield gained 1 basis point to 2.305 percent and the yield on the short-term 2-year surged 3 basis points to 1.621 percent by 11:30GMT.

    Fed’s Mester, who had dissented against all three rate cuts this year, opined that “policy is now well calibrated to the economy” and “we’re in a good spot”, suggesting that the central bank is now effectively on hold. Meanwhile, Rosengren warned that “I wouldn’t want to distort financial markets to get that outcome” of inflation above 2 percent, OCBC Treasury reported.

    Meanwhile, the S&P 500 Futures remained tad 0.26 percent higher at 3,129.88 by 11:35GMT.

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