Treasury Market Summary
Treasury Market Summary: the Treasury market was the star to end the week with yields richening slightly amid losses on Wall Street and in stocks and bonds in Europe. The front end of the Treasury curve outperformed in a bullish steepener with support from firming expectations for a quarter point Fed rate cut at the end of the month, along with some safe haven buying ahead of Saturday's very close Brexit vote. Wall Street was modestly weaker until late in the session when losses were extended on more negative reports on Boeing, concerns over the U.S.-China trade talks, and mixed earnings news. With the indices just off of all-time highs, some risk was taken off the table. Fedspeak was a highlight with comments from VC Clarida, the hawk George, and the centrist Kaplan. Data included just leading indicators. View the summary.