The curve is lower this morning roughly 2 to 3 basis points after two known anti-EU Italian lawmakers were appointed as heads the Senate Finance Committee and Lower House Budget Committee. Given the somewhat precarious situation facing global trade, it doesn’t take much to spook the market and the news out of Italy spurred investors to shed risk assets pushing equites and oil lower overnight. In the US, the jobless claims number came in lower than expected at 218,000 versus 220,000, and the reading was six-week low. The market will likely pay a little more attention to this number going forward due to the age of the current expansion in addition to the fears surrounding trade; as any increase could be a signal that the music is about to stop.
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