Daily Market Commentary

November 13, 2018

Bonds
Long-end USTs remained under pressure, weighted by large block trade earlier while IG issuance ramps up and selling flow emerges. Activity robust in 10-year Treasury options, including large call spread in TY Dec 18 options.

Economy
U.S. stocks struggled to hold early gains after a slump in oil prices hurt energy firms, just as hopes were rising for progress in the American Chinese trade dispute. The dollar slid and Treasuries climbed.

Global
According to the International Monetary Fund, the global economy is on track to grow a healthy 3.7 percent in 2018. That’s exactly how fast it grew in 2017. The IMF’s forecast for 2019? Again, 3.7 percent. It’s a plateau, all right, but a high plateau—call it the Altiplano of economics.

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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