The near-deal between the U.S. and China that fell apart six months ago is now being used as the benchmark to decide how much tariffs should be rolled back in the initial phase of a broader trade agreement. The two sides are discussing linking the size of tariff rollbacks to the preliminary terms set in that failed May deal (Bloomberg) The yield on the benchmark 10-year Treasury note, which moves inversely to price, was slightly lower at around 1.7817%, while the yield on the 30-year Treasury bond was also lower at around 2.2527%. Market focus is largely attuned to global trade developments, as investors await clearer news on whether the U.S. and China will reach a preliminary accord to end a protracted dispute. (CNBC) Deep in the government compound in Beijing, China’s State Council was in session, debating a complicated proposal to help struggling domestic companies. The cabinet meeting took place late in May, days after U.S. President Donald Trump heaped yet more tariffs on China’s exports and restricted the sale of goods to Huawei Technologies Co. On this day though, officials were grappling not over the fallout from the trade war, but how to tackle a home-grown adversary: about $35 trillion in corporate, household and sovereign debt. (Bloomberg)   Source: Danareksa Research Institute Photo by Annie Spratt on Unsplash