Daily Market Commentary

August 11, 2020

Treasuries extend bear-steepening on high volume starting at 8:20am ET, the historical starting time for defunct floor trading of futures, pushing 2s10s and 5s30s onto session wides. July PPI then beat expectations, adding to upward pressure on yields.

President Donald Trump said he's "very seriously" considering a capital gains tax cut, a move he decided against last September after saying it wouldn't do enough to help the middle class.

U.S. stock advanced after President Donald Trump said he's considering a tax cut on capital gains and American hospitalizations for Covid-19 fell to their lowest in a month.

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