Daily Market Commentary

February 7, 2020

Treasuries are re-testing session highs after briefly paring gains in the minute following the release of U.S. employment data, as attention shifts from the stronger-than-forecast January results to Establishment Survey revision to nonfarm employment for January to December 2019.

U.S. employers ramped up hiring in January and wage gains rebounded, providing fresh evidence of a durable jobs market that backs the Federal Reserve's decision to stop cutting interest rates.

Germany is facing a possible recession again after industrial production plunged by the most since the global financial crisis. The 3.5% slide in December's output comes a day after a report showed factory orders declining at the fastest pace in more than a decade.

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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