Even though China-US tariff deal is temporary at 90 days, it gave markets hope, erased uncertainty and spurred new trades/trade unwinds. Markets hoping more deals will follow. Stocks sharply higher all day as gold slumped and vol dropped. Oil higher. Treasurys in bear flattening mode. Front end yields spiked on belief tariff relief will spur growth and then rate cut hopes will dissipate. Ebbing safe haven bid also a factor. AT 15:00ET, 2Y at 4.008% vs 3.883% Fri. 10Y at 4.463% vs 4.378%. 30Y at 4.891% vs 4.836%. 2/10Y curve +45.5 bps vs +49.5. 2/30Y curve + 88.3 bps vs +95.3. Lots of data this week to assess state of economy, inflation. Tue get CPI, NFIB, Atlanta GDP Now. Later in week: PPI, retail sales, IP, import prices, hsg starts. Markets also on alert for any Fedspeak and fact Pres Trump in Middle East this week.
US Treasuries Sell off on Trade Deal Reaction — TradingView News
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