Daily Market Commentary

February 11, 2019

Treasuries drift lower led by core euro-zone rates as European stocks advance; two large block trades in bund futures added to downside momentum, further cheapening European rates vs. Treasuries.

U.S. equity futures climbed with stocks in Europe at the start of a week that could be pivotal for the global trade outlook. The dollar strengthened for an eighth day. Contracts on the S&P 500 reversed earlier declines and the Stoxx Europe 600 Index gained.

Brexit uncertainty dragged U.K. investment to its worst slump since the financial crisis, leaving the economy with barely any momentum. Gross domestic product increased a smaller-than-forecast 0.2 percent in the fourth quarter, while December alone saw the economy shrink by 0.4 percent.

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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