Daily Market Commentary

October 17, 2018

Treasuries were supported in the early U.S. session as S&P e-minis traded heavy and long end received early support; no catalyst seen as driving the early move, yet may partly reflect slightly disappointing
housing data and positioning ahead of FOMC minutes.

U.S. equity futures declined on Wednesday and European stocks reversed an advance as the earnings-inspired rally from a day earlier proved difficult to sustain. The dollar rose with the Treasuries.

U.K. inflation slowed more than expected in September, giving the Bank of England room to move slowly on the path of raising interest rates. While faster pay growth may be strengthening price pressures, the uncertainty from Britain’s imminent divorce from the European Union is also undermining the economy.

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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