Treasury Closing Summary:
Treasury Closing Summary: A large dose of risk aversion swept through the markets overnight into Wednesday's session, then dissipated somewhat in the U.S. Verbal jousting and threats between Kim and Trump over repeated missile tests, Guam, etc. That spread a wave of nausea that initially dented stocks, doused yields and boosted gold and the yen. The concession on the 10-year auction in turn was erased, causing indigestion, buoying yields from lows as stocks stabilized. Productivity came in higher than expected along with wholesale trade data, while Chicago Fed dove Evans appeared ready for balance sheet reduction to launch, but was cautious on inflation and rate hikes.