U.S. government debt yields were mixed Friday morning as traders monitored developments in the U.S.-China trade war and digested the European Central Bank's (ECB) latest policy action.
Market focus is largely attuned to global trade developments, as the world's two largest economies continued to prepare for talks in early October aimed at breaking their trade war impasse.President Donald TrumpHis comments came after his decision to delay increasing tariffs on $250 billion worth of Chinese goods from Oct. 1 to Oct. 15 as a "gesture of good will" to China.
The U.S. and China have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018, battering financial markets and souring business and consumer sentiment. Elsewhere, the ECB announced a massive new bond-buying program on Thursday, in a bid to stimulate ailing euro zone economy. The ECB also cut its main deposit rate by 10 basis points to -0.5%, a record low but in line with market expectations.
The U.S. Federal Reserve, Bank of Japan and Bank of England will all conclude their respective policy meetings next week. On the data front, retail sales for August and import prices for August will be released at around 8:30 a.m. ET. Consumer sentiment for September and business inventories for July will follow slightly later in the session.
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