SUNDAY 5/15/16; China Economic Data

China Retail Sales, Fixed Investment and Factory Output data are all weaker than expected. A week ago, analysts and investors proclaimed that 









[Text is Redacted: Purchase May 2016-05 to Read the Complete Chronology]

US Treasury yields are; 2-year 0.75%, 5-year 1.21%, 10-year 1.70%, 30-year 2.55%. The 2-10 spread is 95 bips representing a flattening yield curve not seen since late 2007. German bund 0.121%. Japan 10-year yield -0.114%.