Treasuries are gaining as the euro slides after euro-area unemployment rose to a record 12.2% in April and German retail sales missed estimates. The Euro Stoxx 50 is down -0.64% while most sovereign debt yields are trading down moderately and the euro is lower by -0.3% versus the greenback. Domestically, Treasury yields are lower, with tens down -4bps to 2.07%, while S&P 500 futures are trading down -0.5%. Copper is down -0.9%, gold is -0.4% lower, and crude oil is off by -0.7% after OPEC left its production cap at 30M barrels per day.