Daily Market Commentary

July 8, 2020

Bonds
Treasuries are slightly weaker across the curve on low volume, with long-end yields higher by less than 1bp and front end little changed.

Economy
The virus set records across the U.S., with Texas's daily cases, Arizona's deaths and California's hospitalizations hitting new highs. New Jersey's transmission rate rose to the highest in about ten weeks.

Global
The latest tensions are overshadowing a trade agreement in January that was meant to draw a line under the trade war and be a boon for business. Instead, differences between both powers are deepening right at a time when the world economy is facing its worst crisis since the Great Depression.

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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