A man looks at an electronic stock quotation board outside a brokerage in Tokyo, Japan August 2, 2024. REUTERS/Issei Kato/File Photo
Two-year yields sank 50 basis points last week and could soon slide below 10-year yields, turning the curve positive in a way that has heralded recessions in the past. Investors will get a read on employment in the service sector from the ISM non-manufacturing survey due later Monday and analysts are hoping for a rebound to 51.0 after June's unexpected slide to 48.8.
The Swiss franc was a major beneficiary of the rush from risk, with the dollar near six-month lows at 0.8586 francs.
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