Daily Market Commentary

January 14, 2020

Bonds
Treasuries resumed rising after December CPI and core CPI rose less than forecast, while November y/y increase in real average weekly earnings was revised to 0.8% from 1.1%.

Economy
Bloomberg Economics' U.S. recession probability model shows receding chances of a downturn within the next 12 months. The latest reading is markedly down from 2019 highs, and below the levels that anticipated past recessions.

Global
China came under greater international pressure to reduce industrial subsidies after the U.S., Europe and Japan agreed to push for stronger World Trade Organization rules against market-distorting government aid.

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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