Once upon a time the bond market could be counted on for sober analysis and clear thinking in the critical work of providing reliable economic indicators based on the so-called wisdom of the crowd. But those days appear to be long gone, or so one could surmise after reviewing the conflicting signals emanating from the US Treasury market of late.

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US states roll out new restrictions as coronavirus cases spread: WSJ
California rolls back economic opening as Covid-19 cases soar: CNBC
Immunity to Covid-19 may only last a few months, UK study finds: CNBC
US and Canada expected to extend non-essential travel ban: Reuters
US: parts of China’s South Sea claims ‘unlawful’: BBC
China’s imports rose in June–first gain since coronavirus crisis started: Reuters
UK economy rebounded at slower pace than expected in May: BBC
Eurozone industrial output posts a record rebound in May: MW
US monthly budget deficit expands to record $864 billion: NY Times