U.S. SERVICES SECTOR REPORTED ACCELERATED ACTIVITY in August as the economy added
nearly
200,000 jobs according to ADP
. The ISM for non-manufacturing activity index which accounts for two-thirds of U.S. economic output advanced to 56.4 from 53.7.
“
While we don’t think that the government data will be as strong as the ADP data, the strength in the ADP report eases some concerns about downside risks in the labor market associated with the recent drop in business sentiment.”
The 10-year note spiked by 9.7 basis points
.
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+1.75%.
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U.S. TRADE GAP SHRANK IN JULY as exports rebound causing the deficit to decline by 2.7 percent. Industrial supplies lead the drop in imports falling by 7.4 percent month over month. “The ongoing trade war between the world’s largest economies has hurt China perhaps more than the U.S. but a few signs of a slowdown have now emerged in the U.S. too.” The 10-year note lost 0.4 basis points. S&P+0.84%, DOW +0.68, NASDAQ +1.09%.
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U.S. TRADE GAP SHRANK IN JULY
as exports rebound causing the deficit to decline by 2.7 percent. Industrial supplies lead the drop in
imports falling by 7.4 percent month
over month.
“The ongoing trade war between the world’s largest economies has hurt China perhaps more than the U.S. but a few signs of a slowdown have now emerged in the U.S. too.”
The 10-year note lost 0.4 basis points
.
S&P+0.84%,
DOW +0.68,
NASDAQ
+1.09%.
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U.S. MANUFACTURING CONTRACTED IN AUGUST falling below the pivotal reading of 50 indicating contraction within the manufacturing sector. “(The ISM data) was confirmation that manufacturing has been in a decline since reaching a peak a year ago,” Pavlik added. “It’s not a great sign, not the kind of sign you want to see in a slowing economy.” Weakening global economies and trade tensions are starting to show effects on the US economy. The 10-year note dipped 2.7 basis points. S&P -0.64%, DOW -1.02, NASDAQ -1.01%.
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U.S. MANUFACTURING CONTRACTED IN AUGUST
falling below the pivotal reading of 50 indicating
contraction
within the manufacturing sector.
“(The ISM data) was confirmation that manufacturing has been in a decline since reaching a peak a year ago,”
Pavlik added
. “It’s not a great sign, not the kind of sign you want to see in a slowing economy.”
Weakening global economies and
trade tensions
are starting to show effects on the US economy.
The 10-year note dipped 2.7 basis points
.
S&P -0.64%,
DOW-1.02,
NASDAQ
-1.01%.
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U.S. SPENDING IMPROVED IN JULY, a signal consumers are confident with the shape of the economy opening their wallets. “Even with elevated policy uncertainty and financial market turbulence, the U.S. consumer continues to display great vitality, emboldened by a large savings buffer.” Spending rose 0.6 percent last month accounting for more than two-thirds of U.S. economic activity. The 10-year note advanced 1.3 basis points. S&P -0.17%, DOW -0.10, NASDAQ -0.46%.
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U.S. SPENDING IMPROVED IN JULY,
a signal consumers are confident with the shape of the economy opening their wallets.
“Even with elevated policy uncertainty and financial market turbulence, the U.S. consumer continues to display great vitality, emboldened by a large savings buffer.”
Spending rose 0.6 percent last month accounting for more than two-thirds of U.S. economic activity.
The 10-year note advanced 1.3 basis points
.
S&P
-0.17%,
DOW -0.10,
NASDAQ
-0.46%.
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EUROPEAN INVESTMENT GRADE BONDS SLIGHTLY EDGED OUT JUNK DEBT
in net prices linked to actual trades.
Easing trade tensions
have boosted Europe’s major indices,
“
The most important thing for markets right now is that China hasn’t escalated the trade war by retaliating against the latest U.S. tariffs”
FTSE 100 +0.31%,
German DAX +0.95%,
CAC 40 +0.65%,
STOXX Europe 600 +0.83%. The
10-year Gilt rose 9.5 basis points.
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TD BANK GROUP REPORTED UPBEAT EARNINGS reflecting a 13 percent rise in the retail segment, overall quarterly profits increased by 4.7 percent. Chief executive Bharat Masrani made a dovish remark on business conditions, “As we head into the final quarter of the year, the macroeconomic environment has become less supportive.” The 10-year note advanced 2.1 basis points. S&P +1.32%,DOW +1.30, NASDAQ +1.51%.
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TD BANK GROUP REPORTED UPBEAT EARNINGS reflecting a 13 percent rise in the retail segment, overall quarterly
profits
increased by 4.7 percent
. Chief executive Bharat Masrani made a dovish remark on business conditions,
“
As we head into the final quarter of the year, the macroeconomic environment has become less supportive.”
The 10-year note advanced 2.1 basis points
.
S&P
+1.32%,
DOW +1.30,
NASDAQ
+1.51%.
Read More
Topics:
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
bond market,
market analytics,
New Issues,
News,
Syndicated Bonds,
syndicated,
research,
market update
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