Just 2 weeks heading into the new decade, hopes of a solid economic rebound took a dent in light of a weaker than expected non-farm payrolls number, which led to bond yields dropping across the board despite the much-anticipated signing of U.S.-China Phase One trade deal. According to MarketWatch:
While the deal will roll back some tariffs of Chinese goods, it also keeps tariffs in place on and estimated $360 billion of Chinese imports, leading some economists to call high tariffs between Washington and Beijing the "new normal."
Indeed, with a curtailed economic outlook,