Daily Market Commentary

April 16, 2019

Bonds
Treasuries extend slide in early U.S. session -- with breach of Monday’s lows by 10-year note contract triggering an uptick in futures volumes -- as IG dollar issuance calendar grew with the addition of Walmart 3-part deal. Cash 10-year yields top 2.58%, highest since March 20 FOMC meeting.

Economy
U.S. factory production stalled in March as motor-vehicle output declined, adding to signs of headwinds for manufacturing and economic growth around the world.

Global
The Chinese government has ramped up spending to support the economy, sending state finances into the red earlier than usual. Authorities spent 5.9 trillion yuan ($874 billion) and received 5.4 trillion yuan in general public revenues in the first quarter, leaving a shortfall of 497.3billion yuan.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy or sell.

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