Good morning. The major market futures are weak this morning on news that manufacturing in the Eurozone and primarily German was worse than consensus expectations. This type of weak economic data is causing a significant move lower in global bond yields with the U.S. 10-year Treasury dropping below 2.5%. As you know, a key indicator forward looking economic growth is the 2-10 year U.S. Treasury Yield Curve that currently stands at just 10 basis-points, and is causing increased fear of an “inversion” that typically precedes recession by 19 months.
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