Treasury Market Outlook: Treasury yields have edged up
Treasury Market Outlook: Treasury yields have edged up, along with core European bonds, as equities stabilize. The 2-year note is up 1.7 bps at 2.629%, and the 10-year is 1.4 bps higher at 2.893%. The Bund is leading the uptick in Europe with a 1.8 bp rise to 0.326%. The Gilt has moved up 1.5 bps to 1.265%. European peripheral yields are a couple of basis points lower. Equities are firmer as Turkey fears abate somewhat and risk appetite returns as the lira stabilized. Japan's Nikkei climbed 2.28%, though China's CSI 300 closed with a 0.5% loss after production, sales and investment data disappointed and suggested the economy hit a rough patch in midyear. Meanwhile, European bourses are up about 0.2% to 0.4% after better than expected German and Eurozone GDP numbers, with German ZEW confidence surprising on high side too. But Eurozone industrial production was weaker than forecast. The FTSE is flat; the unemployment rate dipped, along with weekly earnings. A London car crash near parliament s being investigated as a terror incident. U.S. stock futures are also bouncing after the late drop yesterday. The U.S. NFIB small business optimism index rose 0.7 ticks to 107.9 in July. The calendar also includes July import and export prices and weekly chain store sales. Today's earnings calendar features reports from Advance Auto Parts, Agilent, Home Depot, and Tapestry.