Lots of scary talk in bonds these days, but it's mostly recency bias. Since 1960 the 10 year yield has averaged 5.8%. We're at 5% - below average. If you'd fallen asleep 20 years ago and woke up today you'd think nothing happened in the bond market the entire time. Ignore all the sovereign debt crisis talk. Inflation expectations are adjusting to something more historically normalized. Carry on.

As President Donald Trump and Chinese leader Xi Jinping prepare to meet tomorrow in Washington, DC, only around 2,000 Americans are studying in China, down from 15,000 a decade ago. Long-standing educational programs that built a generation of expertise, such as Fulbright, Boren, and the Critical Language Scholarship are all suspended, but a deal between the leaders could bring them back and protect the students who take part, write experts @RushDoshi and Rosie Levine. "Improving mutual understanding is inherently valuable. For both Washington and Beijing, it also reduces the risk of miscalculation. If the next generation of policymakers has no China experience, both countries will suffer," they argue. Read their full analysis in the comments below.

My latest for Main Street Alpha: How a US Diesel Export Ban Could Impact Global Fuel Markets gngresearch.com/articles/573…

#BREAKING: PM Carney prepared for ‘risk’ that Trump might order U.S.-led military invasion of Canada: report ctvnews.ca/world/article/pm-…

*ORACLE SENDS FORCE MAJEURE NOTICE OVER NEW MEXICO DATA CENTER *ORACLE IS TRYING TO PUT OFF PAYMENTS ON PROJECT IF IT'S DELAYED This is how things start to unwind

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