Daily Market Commentary

December 5, 2018

Bonds
Three-month U.S. dollar Libor fixed higher by 2.7bp to 2.7658% on Wednesday, the largest increase since Nov. 29, ICE data shows. As a result, Libor is at the highest level since November 2008.

Economy
European and Asian stocks dropped on Wednesday following the rout on Wall Street, though declines were contained and U.S. equity futures rose after China pledged to start delivering on trade agreements reached with America.

Global
The euro area is showing no signs of a meaningful economic rebound, with Italy on the verge of recession after the populist government picked a fight with European authorities over spending plans.

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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