Treasury prices are higher this morning with buyers emerging following yesterday’s big sell off. There were no major macro headlines overnight, and U.S. equities appear poised to take a breather following yesterday’s 1.2% rally (S&P 500 futures unchanged). The Fed announced that it will hold a two-day conference in June to review monetary policy tools, including a deeper discussion of average inflation targeting. The conference will include leading academics, as well as union members, community groups, and others that might offer a different perspective on central bank policies. The New York Times is reporting that U.S. and Chinese officials are inching closer to an agreement that could be potentially be wrapped up this month.
Jason Haley
Managing Director, Investment Management Group
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