Treasury Action: Treasuries and Wall Street remain weaker on the session
Treasury Action: Treasuries and Wall Street remain weaker on the session, not far from their worst levels of the day. There was no significant movement on further comments from the White House where aide Conway said it was up to China whether a deal would be made this year or not, echoing President Trump's sentiments. She also added that December 15 is an important date (when levies will be increased), but also noted the president does not look at those "artificial deadlines." Meanwhile, the more optimistic sentiment was dented by the weaker than expected ISM and construction data. The markets will have plenty more opportunity to gauge the economy this week with more key reports on vehicle sales, the ISM services index, and employment numbers. The Dow and S&P 500 are over 0.7% lower, with the NASDAQ sliding 1.05%. Treasury yields are cheaper too, with the bond up 7 bps at 2.277%, the 10-year 5.4 bps higher at 1.829%, and the 2-year up 1 bp at 1.612%.