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.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.