Daily Market Commentary

May 28, 2020

Bonds
Treasuries ply narrow ranges with belly outperforming ahead of 7-year note auction, third and final event of this week's cycle. Firm U.S. equity index futures limit gains for Treasuries while bunds outperform after German regional CPI data.

Economy
U.S. states' jobless rolls shrank for the first time during the coronavirus pandemic in a sign people are starting to return to work, even as millions more Americans filed for unemployment benefits.

Global
As governments ease lockdowns of businesses and allow consumers to travel and shop again, measures of high-frequency data and confidence increasingly suggest a bottom has been reached in the worst global recession since the Great Depression.

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.

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