Disquiet Curbs Yield Climb

Geopolitical turmoil returned this week as the North Korea-U.S. summit was cancelled. News of the summit’s cancellation heightened investor concerns that global expansion will be negatively impacted, particularly as the China trade deal looks to be in question. Investors have reacted by moving to safe-haven assets, including U.S. Treasuries, pushing yields down. As a result, the 10-year Treasury yield fell to 2.98% from last week’s high of 3.11%.