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Treasury yields added to their steep decline from May, with the benchmark 10-year treasury note falling below the 2.10 per cent mark for the first time since September 2017 as tariff threats against Mexico further rattled investors who are already on edge over renewed US-Chinese trade tensions. Growing fears that Washington’s disputes with its biggest trading partners will hobble global economic growth have intensified expectations that the Federal Reserve will cut interest rates sharply this year.  Markets are now pricing in greater than an 80% chance of at least one rate cute this year.  (FT)


Private Equity firm Blackstone is buying a network of U.S. industrial warehouses from Singapore-based GLP for $18.7B, in the largest private real-estate transaction ever. It's a big bet on the continued explosion of e-commerce and delivery as global investors spend billions of dollars to acquire logistics assets. Blackstone outbid real-estate company Prologis for the 179M-square-foot portfolio, nearly doubling the size of its U.S. industrial footprint. (SA)


Trust-busting is back -- Amazon could face heightened antitrust scrutiny under a new agreement between the government's twin antitrust agencies that puts it under closer watch by the Federal Trade Commission, this according to The Washington Post . The move would divvy up competition oversight of two of the country's top tech companies, with the U.S. Justice Department having more jurisdiction over Google and paving the way for an antitrust investigation of the search-and-advertising giant.  (SA)

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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