Bonds Trade Flat

Bonds Trade Flat

S&P MARKETSCOPE (9:06 am ET): Bonds little changed as July Retail Sales fell 0.1% with autos, up 0.4% without autos, and July Import Prices rose 1.7% vs. 2.9% in June, which revised from 2.6%. Awaiting report on June Business Inventories, which see up 0.4% and which could influence outlook for Q2 and Q3 GDP. Earlier today, Japan reported its Q2 GDP fell 0.6%, suggesting recession looms. The 2-year notes flat at 100-19/32 for yield of 2.447% at 8.36 am EDT, the 10-year Treasury is off 01/32 to 100-27/32 for yield of 3.903% and the 30-year bond is flat at 99-14/32 for yield of 4.537%. Debate raging whether U.S. in recession or economic slowdown. Argue whether a recession would be steep or shallow, lengthy or short. Commodities seem to have topped out, the dollar seems to have bottomed.

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