Daily Market Commentary

August 7, 2020

Bonds
Negotiations on a new coronavirus relief bill edged toward the brink of collapse after a meeting Thursday between White House officials and top congressional Democrats ended with each side accusing the other of being unwilling to compromise and the biggest issues far from resolved.

Economy
Payrolls increased by 1.76 million in July, beating estimates for a 1.48 million gain and after a 4.79 million advance in June, according to data Friday from the Labor Department. The unemployment rate fell by more than expected, to 10.2%.

World
The Trump administration is poised to impose sanctions on Chinese officials and their allies in Hong Kong, including Chief Executive Carrie Lam, as soon as Friday over their role in curtailing political freedoms in the former U.K. colony, according to three people familiar with the matter.

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 when to buy or sell.

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