Daily Market Commentary

December 3, 2018

Bonds
Treasuries gained in November as expectations for more than one Fed rate increase in 2019 faded and as crude oil and U.S. stocks fell. Yields climbed to YTD highs early in the month following strong October employment data.

Economy
Stocks jumped on Monday after the U.S. and China declared a truce in their trade war, while Treasuries and the dollar fell. Oil surged on optimism producers will cut output. The Dow, Nasdaq and S&P all opened higher, while European and Asian shares advanced.

Global
Qatar will withdraw from the Organization of Petroleum Exporting Countries effective Jan. 1, Saad Sherida Al-Kaabi, the country's energy affairs minister, said at a press conference in Doha. The country will not remain committed to OPEC agreements after its exit.

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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