US stock futures slipped as optimism surrounding a temporary truce between the US and China short-lived after the US expanded a list of additional European products that may get hit with tariffs. The EU has their own list of retaliatory measures ready as well should the situation get worse. The Treasuries nudged higher along with most government bonds in Europe as the dollar weakened. In Europe, the yield on Italian two-year debt briefly turned negative for the first time in over a year while the German bund yields continued to hit new lows. According to the National Bureau of Economic Research, this month marks the 121st month of the US economic expansion, marking the longest run on record which goes back to 1854. Elsewhere, WTI crude slipped below $59 a barrel this morning as investors weighed OPEC’s expansion of its production output cuts into 2020. Later today, Cleveland Fed President Mester is scheduled to speak on the economic outlook to the European Economics and Financial Centre in London.
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US stock futures slipped as optimism surrounding a temporary truce between the US and China short-lived after the US expanded a list of additional European products that may get hit with tariffs. The EU has their own list of retaliatory measures ready as well should the situation get worse. The Treasuries nudged higher along with most government bonds in Europe as the dollar weakened. In Europe, the yield on Italian two-year debt briefly turned negative for the first time in over a year while the German bund yields continued to hit new lows. According to the National Bureau of Economic Research, this month marks the 121st month of the US economic expansion, marking the longest run on record which goes back to 1854. Elsewhere, WTI crude slipped below $59 a barrel this morning as investors weighed OPEC’s expansion of its production output cuts into 2020. Later today, Cleveland Fed President Mester is scheduled to speak on the economic outlook to the European Economics and Financial Centre in London.
The curve has bull-flattened with UST 10-Year yield down 1.22 bps.