Daily Market Commentary

March 6, 2019

Bonds
Treasury futures remain broadly near top of Asia-session range following block sale in ultra 10-year futures and large upward revision to ADP employment change.

Economy
The U.S. trade deficit widened in 2018 to a 10-year high of $621 billion as tax cuts boosted domestic demand for imports while the strong dollar and retaliatory tariffs weighed on exports.

Global
The Bank of Canada will likely keep interest rates on hold at 1.75% at its meeting on Wednesday. In assessing economic conditions for 2019, the Governing Council will exercise patience after growth slowed significantly at year-end and global risks escalated.

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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