Daily Market Commentary

March 29, 2019

Bonds
Treasuries near lows of the day, tracking losses for gilts on indications that some Labour MPs are preparing to back U.K. PM May's Brexit deal. Declines follow subdued price action during Asia and early Europe, with month-end extensions and quarter-end rebalancing in focus for Friday's U.S. session.

Economy
U.S. consumer spending in January was short of projections wile inflation eased, an early read on the economy in the first quarter that may add to concerns about the outlook. Purchases, which account for about 70% of the economy, rose 0.1% from the prior month after a downwardly revised 0.6% drop.

Global
Canada's economy began 2019 with its largest output gain in eight months, an unexpected result that will ease worries the expansion has come to a halt. Gross domestic product grew by 0.3 percent in January, faster than the 0.1 percent forecast in a Bloomberg survey of economists

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