U.S. government debt yields were mixed Wednesday morning, as global trade developments offered much-needed relief for markets.
President
said Tuesday that the move was designed to avoid any potential impact on holiday shopping ahead of Christmas season. He added China would very much like to make a trade deal.was approximately 2 basis points away from inversion on Wednesday, a phenomenon heralded by many as a recession indicator. Market participants are now demanding higher interest rates on short-term debt than they are longer term debt, an event known as an "inverted yield curve.
On Tuesday, the spread between the two yields narrowed to just 1 basis point. A basis point is one hundredth of one percent. Investors often give the spread between the 10-year and the 2-year special attention because inversions of that part of the curve have preceded every recession over the past 50 years, albeit it often took months even years before an economic downturn hit.There are no major Treasury auctions scheduled on Wednesday.
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