Sunday, July 24, 2016

SUNDAY 7/24/16

G-20 finance ministers are meeting in Chengdu, China. The group pushes back against the growing protectionism and anti-trade sentiment around the globe that is reminiscent of the 1930's.

[Text is Redacted: Purchase July 2016-07 to Read the Complete Chronology]

US Treasury yields are; 2-year 0.71%, 5-year 1.12%, 10-year 1.57%, 30-year 2.28%. The 2-10 spread is 86 basis points reflecting a yield curve that prefers a flattening bias rather than a steepening bias. The banks are not in favor due to the flatter yield curve. German 10-year bund yield -0.023%. Japan 10-year yield -0.236%. Other 10-year yields are; Portugal 3.02%, Italy 1.23%, Spain 1.11%, UK 0.79%, Netherlands 0.09%, Switzerland -0.57%.

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