Daily Market Commentary

March 5, 2019

Long end of Treasury curve has lagged since Merck slated a dollar benchmark offering, with 5s30s moving from around 55bp back toward 55.5bp. Curve remains flatter by 0.6bp on the session.

A gauge of U.S. service industries rebounded in February by more than forecast on strength in new orders, a sign the economy remains on relatively solid footing even with growth projected to cool this quarter.

China lowered its goal for economic growth and announced a major tax cut, as policymakers seek to pull off a gradual deceleration while grappling with a debt legacy and the trade standoff with the U.S.

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