Daily Market Commentary

May 29, 2020

Bonds
Treasuries are underpinned on last trading day of the month, which features a heavy slate of U.S. economic data, a White House news conference on China, comments by Fed Chair Powell and a large Treasury Index duration extension.

Economy
U.S. consumer spending, which accounts for about two-thirds of the world's largest economy, plunged in April by the most on record after the coronavirus pandemic halted purchases of all but the most essential goods and services.

Global
The euro area's inflation rate fell to the lowest level in four years, adding to reasons for the European Central Bank to expand monetary stimulus. Economists predict the ECB will step up emergency asset purchases next week to rekindle growth.

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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