Daily Market Commentary

April 19, 2019

Treasuries ended holiday-shortened session higher after recovering from a setback on strong March retail sales, aided by weaker-than-forecast Markit PMIs (which followed soft European PMIs).

U.S. new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower mortgage rates and steady wage gains offer support to consumers.

The Bank of Japan is likely to consider making slight cuts to its economic projections in its quarterly outlook report next week, according to people familiar with the matter. Recent data for exports and production have been weaker than previously expected and may result in lowering the estimates for GDP.

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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