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The 2s10s spread has gone...........>

US TSYS SUMMARY
US TSYS SUMMARY: The 2s10s spread has gone negative for the first time since
2007, with 30-Yr yields reaching record lows as Tuesday's brief optimism fades.
- Global stocks paring sharp gains made Tuesday following the announcement of
delayed US tariffs on Chinese imports. Chinese and German economic data
disappointments overnight have helped dampen sentiment.
- The 2-Yr yield is down 3.7bps at 1.6299%, 5-Yr is down 5.7bps at 1.5267%,
10-Yr is down 7.9bps at 1.625%, and 30-Yr is down 10.1bps at 2.0621%.
- Sep 10-Yr futures (TY) up 12/32 at 130-6.5 (L: 129-21 / H: 130-07).
- All that said, volumes remain relatively unremarkable, with some contacts
reporting thin liquidity (notably in 30-Yr).
- S&P Emini futures last off 0.9%; USD a little weaker (-0.1% v EUR).
- EDs not really keeping pace with the bond rally (strip up 2.5-5.5 ticks, amid
bull flattening), but Sep FOMC likely to take more focus amid curve inversion.
- Very light data schedule today, with export/import price indices at 0830ET.
- And once again, no FedSpeak on the agenda.

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