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Positive economic data out of Europe as well as news that Greece had reached a deal with its creditors pushed the curve steeper and higher overnight. Additionally, rumors that US trade officials were working on restarting negotiations with China before the tariffs went into place buoyed risk sentiment sending equities higher.

The curve is lower this morning roughly 2 to 3 basis points after two known anti-EU Italian lawmakers were appointed as heads the Senate Finance Committee and Lower House Budget Committee. Given the somewhat precarious situation facing global trade, it doesn’t take much to spook the market and the news out of Italy…

Treasuries reversed the trend from the past two days and sold off as investor appetite for risk assets improved. Equities and oil were buoyed by an easing in trade tensions between China and the US; comments from PBOC governor Yi Gang assuaged the market’s fear by promising to use monetary policy “comprehensively” in…

Treasuries rallied overnight, with the curve lower by about 3 basis points this morning, as growing fears surrounding the escalation in trade rhetoric between the world’s two largest economies. President Trump asked the Treasury to identify $200 billion in Chinese goods to place tariffs on, and China responded that it will act “forcefully”.

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Treasury yields are lower this morning following a risk-off move overnight in response to increasing tensions between China and the US as well as concerns surrounding migration in Germany and Brexit talks in the UK. In response to the Trump administration placing tariffs on $50 billion on Chinese imports, the Asian nation levied…

Treasuries were well-bid overnight and are currently a few basis points lower across the curve (2s10s being 1bp lower at 35bps) as the US announced $50bn of tariffs across a variety of Chinese goods. China quickly reacted, stating that they will impose tariffs with “equal scale, equal intensity” and that the consensus reached…

Treasury yields are lower this morning as investors digest yesterday’s relatively hawkish FOMC statement/projections and today’s more dovish ECB policy statement. A combination of bear flattening post-FOMC and bull-flattening post-ECB has pushed the 2-year/10-year Treasury spread down to 37 bps this morning, a new current-cycle low. Equities turned lower post-FOMC yesterday, but both…

Treasury prices are lower this morning as investors digest headlines from the U.S./North Korea summit and May CPI. The summit concluded positively with a commitment to denuclearize the Korean peninsula, but there was little/nothing provided with regards to the specific details of the agreement. As such, there hasn’t been much of a reaction in global…

Treasury prices are lower this morning as investors digest headlines from the U.S./North Korea summit and May CPI. The summit concluded positively with a commitment to denuclearize the Korean peninsula, but there was little/nothing provided with regards to the specific details of the agreement. As such, there hasn’t been much of a reaction…

Treasury prices are modestly lower this morning ahead of fresh supply (3yr and 10yr note auctions), and overnight trading volumes (Treasury futures) were less than 60% of the trailing 20-day average. Investors are cautiously awaiting this week’s central bank announcements, as well as (to a lesser extent) the Trump/Kim summit that begins later tonight. The…