Daily Market Commentary

February 13, 2020

Bonds
The gilt sell-off sparked by the resignation of Sajid Javid as Chancellor of the Exchequer pushed the U.S.-U.K. 10-year yield spread as low as 95.1bp, the tightest level since October 2017.

Economy
U.S. equities declined on Thursday alongside European stocks as officials in China deployed a revised methodology to diagnose the coronavirus, sending the number of confirmed cases soaring.

Global
European weak economic growth is set to continue this year, the bloc's executive said, warning that a deadly viral outbreak could further dampen the outlook. The European Commission singled it out as a "key downside risk."

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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