The US announced plans to expand its sanctions on Chinese technology companies, leading to a drop in US equities of up to 1.6% in the Nasdaq, which however recovered most of the fall, closing -0.3% and 0.05% in the S&P500. The treasury curve had a slight bull steepener, with short bonds gaining (-3bps yields) and long bonds remaining flat, which took 2y-20y and 2y-30y spreads above 100bps again. Commodities fell across the board against an unchanged dollar. VIX stable at 19.3. Venezuela and PDVSA had more selling in the sovereign long side, which fell 0.5pts, while the rest of the sovereign curve and PDVSA remained basically flat. Latin American credits close flat and down 0.3pts on low volumes, with spreads widening slightly.

The US announced plans to expand its sanctions on Chinese technology companies, leading to a drop in US equities of up to 1.6% in the Nasdaq, which however recovered most of the fall, closing -0.3% and 0.05% in the S&P500. The treasury curve had a slight bull steepener, with short bonds gaining (-3bps yields) and long bonds remaining flat, which took 2y-20y and 2y-30y spreads above 100bps again. Commodities fell across the board against an unchanged dollar. VIX stable at 19.3. Venezuela and PDVSA had more selling in the sovereign long side, which fell 0.5pts, while the rest of the sovereign curve and PDVSA remained basically flat. Latin American credits close flat and down 0.3pts on low volumes, with spreads widening slightly.

During the week, U.S. Treasury yields rose as investors assessed the state of the economy.

During the week, U.S. Treasury yields rose as investors assessed the state of the economy.

During the week, U.S. Treasury yields rose as investors assessed the state of the economy.

During the week, U.S. Treasury yields rose as investors assessed the state of the economy.