Daily Market Commentary

March 5, 2019

Bonds
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.

Economy
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.

Global
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.

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 sell.

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