Daily Market Commentary

October 4, 2019

Bonds
Treasuries drop, paring early session gains, after mixed September jobs data including change in nonfarm payrolls 9k short of median estimate while August was revised higher by 38k.

Economy
U.S. hiring missed projections in September and wage gains cooled, offering a warning that the record-long expansion is poised for further slowing even as the jobless rate fell to a half-century low.

Global
Pension reform was approved by Brazil's Senate in a first-round floor vote -- but, contrary to expectations, its savings were further reduced. This was read as a signal of dissatisfaction among senators about their relationship with the government.

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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