Hot CPI, disappointing retail sales, slumping surveys, and a drop in real wages... is it any wonder the yield curve just flushed another 3bps to a 75bps handle - the flattest 5s30s curve since Nov 2007.
This is the 13th daily flattening out of the last 15 days...
Everything changed after China intervened in it's FX market 'Shanghai Accord'-style...
There was some serious volume in Treasury futures as the data hit...