Treasury Market Outlook:
Treasury Market Outlook: 10-year Treasury yields moved up overnight, as stock market sentiment started to stabilise, with stock futures moving higher. As of 11:41GMT the 10-year yield is up 0.9 bp at 3.072%, the 2-year yield gained 0.4 bp and is at 2.808%, leaving the curve steeper. This mirrors developments in Europe, where Bund and Gilt yields are up 1.9 bp and 1.1 bp, although both are down from highs on ongoing Italy and Brexit jitters, as PM May is in Brussels for talks with European Commission President Juncker to smooth out remaining issues. The OECD cut back its growth forecast for the world economy but remained cautiously optimistic that a hard landing can be avoided. Still fears that ongoing trade tensions will have a larger impact on the world economy remain even if Chinese stock markets managed to close with modest gains on hopes of progress at the December 1 meeting between U.S. President Trump and China's leader Xi Jinping. In Europe DAX and FTSE 100 are up 0.66% and 0.69% respectively after a mixed close in Asia where Topix and Nikkei still headed south. A nearly 1% gain in the Nasdaq, however, is leading U.S. futures higher. The U.S. calendar is busy into long weekend and includes weekly jobless claims, as well as consumer sentiment data.