Daily Market Commentary

December 2, 2019

Bonds
Global bonds started the week with a sharp lurch lower after economic data in China beat expectations and a change in Germany's political leadership opened the possibility for more fiscal spending. U.S. Treasuries led declines.

Economy
The President is reinstating tariffs on steel and aluminum from Argentina and Brazil, nations he criticized for cheapening their currencies to the detriment of U.S. farmers, and again called on the Federal Reserve to loosen monetary policy.

Global
Hong Kong's retail sales suffered a record contraction in October, as the city counts the cost of almost six months of political unrest. Retail sales contracted by 24.3% in the month from a year earlier, the fourth month of double-digit declines.

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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