Dow set to drop; bonds flash recession signal; Chinese economic data weakens; China blames the US for Hong Kong protests; mortgage refinances surge
broke a two-session losing streak on Tuesday, in a strong rally on the Trump administration's announcement of delays and removals of certain items on the new tariffs that had been set to go into effect Sept. 1.The inverted yields on the 2-year and 10-year Treasurys is an odd bond market phenomenon that's been a reliable indicator of economic recessions.
The flight to the perceived safety of U.S. bonds accelerated in recent days as concerns about the global economy due to the U.S.-China trade war mount. On Wednesday, the Chinese as the U.S. tariffs appeared to be taking their toll. China's July industrial output rose 4.8% — slowest in 17 years. Retail sales growth in China was also weaker than expected last month.Riot police disperse anti-extradition bill protesters during a mass demonstration after a woman was shot in the eye, at the Hong Kong international airport, in Hong Kong China August 13, 2019.
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