Treasuries are lower across the curve this morning from Friday’sclose. The UST10-Year yield is currently at 3.070% after closing at 3.057% prior.
Treasury yields rose overnight and into the open as investors refocused their attention to the ongoing trade talks between the U.S. and China. Treasury Secretary Mnuchin stated over the weekend that the trade war has been put on hold as they try to execute a framework to substantially reduce the U.S. trade deficit in goods with China. U.S. stocks surged, and all major equity gauges were higher this morning as the trade talks appear to be making progress.
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Treasury yields rose overnight and into the open as investors refocused their attention to the ongoing trade talks between the U.S. and China. Treasury Secretary Mnuchin stated over the weekend that the trade war has been put on hold as they try to execute a framework to substantially reduce the U.S. trade deficit in goods with China. U.S. stocks surged, and all major equity gauges were higher this morning as the trade talks appear to be making progress.
This week’s economic calendar kicked off with the Chicago Fed National Activity Index for April which rose to 0.34 from an upwardly revised 0.32 prior. The remainder of the week consists of Tuesday’s Richmond Fed Manufacturing Index for May, Wednesday’s New Home Sales data for April and the FOMC Minutes from the May Fed meeting, Thursday’s Existing Home Sales for April, and Friday’s Durable Goods Orders for April.
The curve has bear-flattened with the UST 10-Year yield up 1.3 bps from prior closing.