- One might expect long-term U.S. Treasury yields to take out new 2015 highs after the strong May retail sales report provides more evidence of a nice Q2 bounce in economic growth.
- The 10-year yield, however, is lower by four basis points to 2.44% as yields across the pond tumble. After hitting 1.03% earlier in the session, the German 10-year Bund yield has slipped all the way back to 0.90%, off eight basis points for the day.
- The Italian 10-year yield is down 13 bps to 2.13%, and the 10-year yield is lower by a full 20 bps in Spain to 2.12%.
- TLT +0.95%, TBT -1.9% premarket
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, EU, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, BUNL, TENZ, LBND, BUNT, GGOV, DLBL, TYBS, VUSTX