Treasuries Dipped Slightly as Investors Awaits Key Economic Data and Omicron

Treasuries inches down as investors awaits key U.S. economic data and continue to assess omicron development.

The yield on the benchmark 10-year treasury dipped 2.4 bps to 1.463% in premarket trading. On the other hand, the 30-year treasury bond moved 2 basis points lower to 1.876%.

Key economic data, third quarter GDP growth and inflation data are due on Wednesday along with PCE prices.

U.S. Energy Information Administration will also be releasing weekly data on oil, gasoline and fuel stocks on Wednesday as well.

On the Omicron front, several European countries are considering possible lockdown before Christmas and holidays. However, U.S. administration is still maintaining an optimistic tone despite surging cases of Omicron.