US Treasury yields are 4bps lower across the curve as US equities futures point to a softer open alongside the dip in European equities (SPX -.30%, SX5E -.59%). In addition, the dollar edged lower overnight continuing the month-long trend. Yesterday’s Fed speakers, including Chairman Powell, stressed the message of patience regarding future interest-rate hikes as the central bank waits to see how global risks evolve and that the bank is staying course with the process of returning the balance to a more normal level. CPI headlines the economic releases this morning and came in as expected at 1.9% YoY which is a slight decline from the previous reading of 2.2%.

Chris Eckhoff
Associate, Investment Management Group