Daily Market Commentary

March 8, 2019

Bonds
Treasury futures briefly surged to session highs, and then retreated, after February nonfarm payrolls increased 20k vs 180k estimate, while prior month was revised up to 311k from 304k; initial bull-steepening move quickly fades leaving yields only slightly richer on the session.

Economy
U.S. hiring was the weakest in more than a year while wage gains were the fastest of the expansion and the unemployment rate fell, a possible sign that America's jobs engine is starting to slow down. Treasuries rose while the dollar and stock futures fell.

Global
Mario Draghi, the European Central Bank president, who will leave office in October after spending his entire eight-year tenure crisis-fighting, announced a new round of long-term loans to banks and promised interest rates won't be lifted from recored lows until 2020.

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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