Upcoming Data Releases:
China’s covid easing continues at slow pace. German police arrest members of an extremist group plotting to overthrow the state. US secures release of Brittany Griner from Russia in exchange for Viktor Bout. US Non-manufacturing PMI comes in hotter than forces, while PPI slightly above consensus. Chinese Balance of Trade data comes in about $10 billion short of expectations.
Risk appetite slows ahead of the final FED hike of the year next week.
Crude oil continues strong slide.
US Treasury curve continues to twist awkwardly.
3mo – 10yr spread continues to look for a bottom.
High yield spread continues to roll over.