German 10-yr yield re-enters sideways channel, eyes 0.48%

ECB’s dovish bias hasn’t gone down well with the German Bund traders. The 10-year yield has re-entered falling sideways channel and is likely to extend the drop to 5-week MA of 0.48%.

Weekly chart

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US trade deficit fell in May

The Commerce Department says the U.S. deficit in the trade of goods and services fell 2.3 percent in May to a seasonally adjusted $46.5 billion. Exports ($192.03 billion) rose to highest since April 2015…

Imports fell 0.1% while exports rose 0.4%.

The deficit in the trade of goods with China fell by 6.2 percent to a seasonally adjusted $30.1 billion.