Treasury Action: Treasury Secretary Mnuchin said there are no plans yet to go to Beijing
Treasury Action: Treasury Secretary Mnuchin said there are no plans yet to go to Beijing, in comments to reporters on his way to a House Financial Services Committee hearing. That's given Treasuries a bit of a lift and has added to the weakness in U.S. equity futures as it exacerbates concerns over the trade dispute. The 2-year yield is 2.5 bps richer at 2.229%, and the 10-year is off 2.1 bps at 2.405%. European bonds rates have extended lower too, with the Gilt now down 5.6 bps to 1.025%, and the Bund is down 1.4 bps at -0.08%. Overnight, the dovish FOMC voter Bullard advocated for a rate cut if inflation were to remain weak (though that's an often repeated stance from him) helped underpin Treasuries.