Bonds & Stocks
Treasuries rallied as President Donald Trump’s comments on Sunday that the US economy is facing “a period of transition” added to concern that an economic slowdown could be just around the corner.
Economy
February’s payroll data showed solid job gains, but a slowdown in government hiring suggests that federal hiring freezes — and possibly some resignations — are weighing on the labor market. We expect efforts to reduce the federal workforce to continue dragging on job growth.
World
Mainland Chinese investors bought an unprecedented HK$29.6 billion ($3.8 billion) worth of Hong Kong stocks on a net basis on Monday. That surpassed the previous record seen in early 2021, according to Bloomberg-compiled data going back to late 2016, when trading links with the financial hub began.