Treasury market felt midday pressure from the possibility of a delay on the Chinese and corresponding American tariffs, bringing down what was a positive start to the morning. Treasuries were positive in the morning after the ECB meeting resulted in a more dovish than expected combination of a rate cut and QE. Overseas data was mixed and today’s US economic calendar includes data on inflation and employment. The headline Consumer Price Index was in-line with expectations of +0.1% increase but the core CPI increase of +0.3% was above forecasts of +0.2%. Meanwhile the Weekly Jobless Claims Report showed a better than expected increase in New Claims of +204k vs estimates of 215k.