The U.S. trade deficit fell in October to its lowest level






Treasuries lacked a significant price catalyst Thursday as a sell-off during U.S. morning was partly faded over a subsequently muted session. The curve steepened slightly out to a 10-year sector with front-end yields cheaper by 1bp on the day. Minimal reaction to data or trade developments constrained futures and options activity. Negative Dow Jones headline on trade talks toward the end of the U.S. session unleashed a flurry of 10-year futures trades, although price action was muted. (Bloomberg)

The U.S. trade deficit fell in October to its lowest level in more than a year as exports and imports both slid for the month, the Commerce Department said Thursday. The deficit tumbled 7.6% to $47.2 billion from a revised print of $51.1 billion for September. Economists polled by Dow Jones expected the U.S. trade deficit to narrow to $48.5 billion in October. Imports dropped by 1.7%, or $4.3 billion, to $254.3 billion. That decline was driven by fewer imports on products including cellphones, toys and games, and passenger cars. (CNBC)

 

Source: Danareksa Sekuritas Debt Research
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