Daily Market Commentary

May 26, 2020

Bonds
Treasuries begin holiday-shortened U.S. week under pressure as S&P 500 futures exceeded 3,000, unleashing further gains. Bear-steepening leaves yields cheaper by 1bp to 3bp ahead of $127 billion auction cycle consisting of 2-, 5- and 7-year notes.

Economy
U.S. stocks surged to the highest since March 5 as investors speculated the worst of the pandemic's damage to the global economy has passed after countries moved to ease lockdowns. A dollar gauge fell by the most in almost two months.

Global
The euro-area economy is still facing severe threats even after policy makers took unprecedented measures to tackle the coronavirus pandemic, according to the European Central Bank.

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 when to buy or sell.
 

Today, Tomorrow, Together