Daily Market Commentary

April 17, 2019

Bonds
Securitizations may be poised to follow the lead of Europe’s wider sterling bond market with a switch to using Sonia, the Bank of England’s replacement for scandal-hit Libor.

Economy
The U.S. trade deficit unexpectedly narrowed to an eight-month low in February on a surge in civilian aircraft exports, which may come under pressure after the grounding of Boeing Co.’s 737 Max planes. The deficit in goods and services declined to $49.4 billion from $51.1 billion.

Global
Stocks edged higher on Wednesday as improving prospects for the world’s second-biggest economy helped lift investor sentiment and the earnings season rumbled on. Bonds fell and the dollar nudged lower.

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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