In August, the US Treasury (UST) curve flattened. Near-term yields rose due to expectations of a September Federal Reserve (Fed) rate hike, while mid to long-dated yields fell.
Escalating US-China trade tensions and the weaker-thanexpected July US jobs report pushed UST yields lower at the start of the month. Investor sentiment for risky assets was affected by Turkey's political and economic headlines, but subsequently improved on the back of a positive turn in Mexican-United States trade relations.
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