CONSUMER CONFIDENCE SURGES TO 135.7 NEARING AN 18-YEAR HIGH set back in October of 137.9. Despite the strong confidence among consumers the Fed is expected to cut rates fearing damage done by the trade dispute is worse than anticipated. “Consumers are once again optimistic about current and prospective business and labor market conditions.” Gold held steady as a safe-haven asset for investors fleeing volatility. The 10-year note lost 0.5 basis points. S&P -0.28%, DOW -0.09, NASDAQ -0.24%
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CONSUMER CONFIDENCE SURGES TO 135.7 NEARING AN 18-YEAR HIGH set back in October of 137.9. Despite the strong confidence among consumers the
Fed is expected to cut rates
fearing
damage done by
the trade dispute
is worse than anticipated.
“Consumers are once again optimistic about current and prospective business and labor market conditions.”
Gold held steady as
a safe-haven asset
for investors fleeing volatility.
The 10-year note lost 0.5 basis points
. S&P
-0.28%,
DOW -0.09,
NASDAQ
-0.24%.
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EUROPEAN INVESTMENT GRADE BONDS ROSE against its high yield counterparts in net prices linked to actual trades. Euro zone economic
sentiment further declined
in July
indicating a
deteriorating economy supporting European Central Bank President Mario Draghi case for
monetary easing. The pound
dips to a 28-month low
meanwhile the dollar held near two-month high.
FTSE 100 -0.50%,
German DAX -2.38%,
CAC 40
-1.83%,
STOXX Europe 600
-1.60%. The
10-year
Gilt lost 2.1 basis points.
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INVESTMENT GRADE DEBT ROSE AGAINST JUNK BONDS
in net prices linked to actual trades.
Car sales are expected to slump in July
as increased costs drove
prices higher
preventing Americans from signing on the dotted line. Sales are
expected to dip by 1.8 percent
. Despite the recent slowdown auto dealers are not concerned,
“While trade risk remains a threat, transaction prices continue to rise and economic growth is moderating, sales in the second half of the year could outperform expectations.”
The 10-year note lost 0.8 basis points
. S&P
-0.18%,
DOW +0.11%,
NASDAQ
-0.45%.
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INVESTMENT GRADE DEBT ROSE AGAINST JUNK BONDS in net prices linked to actual trades. Car sales are expected to slump in July as increased costs drove prices higher preventing Americans from signing on the dotted line. Sales are expected to dip by 1.8 percent. Despite the recent slowdown auto dealers are not concerned, “While trade risk remains a threat, transaction prices continue to rise and economic growth is moderating, sales in the second half of the year could outperform expectations.” The 10-year note lost 0.8 basis points. S&P -0.18%, DOW +0.11%, NASDAQ -0.45%.
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FRENCH PHARMACEUTICAL GIANT SANOFI RALLIED ON MONDAY following revised full-year earnings guidance suggesting 5 percent growth, the
stock
advanced 2.31 percent
.
Sanofi bonds
also traded notably higher in particular,
Sanofi (EUR) 1.25% 3/21/2034.
The growth was driven by the launch of a new brand Dupixent, in addition,
“Our increased focus in R&D delivered important results with several positive data read-outs and the achievement of regulatory milestones.”
FTSE 100 +1.87%,
German DAX +0.06%,
CAC 40
-0.06%,
STOXX Europe 600
+0.18%. The
10-year
Gilt lost 3.6 basis points.
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U.S. DURABLE GOODS ORDERS SURGED BY 2 PERCENT IN JUNE largely due to an increase in civilian aircraft orders. Core capital goods orders rose 1.9 percent on year-over-year basis suggesting the economy is picking up steam after two months of weak data. “The U.S. economy is stronger today because the rest of the world is in a recession. That’s not the way it’s supposed to work, but that’s the way it’s working now. Because the rest of the world is in a recession, our interest rates are scraping bottom. And because our interest rates are scraping bottom, our economy is actually doing pretty darn well,” said Todd Buchholz, former White House director of economic policy under President George H.W. Bush “Eighty-eight percent of our economy has pretty much nothing at all to do with exports or imports.”
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U.S. DURABLE GOODS ORDERS SURGED BY 2 PERCENT IN JUNE largely due to an increase in civilian aircraft orders.
Core capital goods orders rose 1.9 percent on year-over-year basis suggesting the economy is picking up steam after two months of weak data.
“The U.S. economy is stronger todaybecause the rest of the world is in a recession. That’s not the way it’s supposed to work, but that’s the way it’s working now. B
ecause the rest of the world is in a recession, our interest rates are scraping bottom. And because our interest rates are scraping bottom, our economy is actually doing pretty darn well,” said Todd Buchholz,
former White House director of economic
policy under President George H.W. Bush
“Eighty-eight percent of our economy has pretty much nothing at all to do with exports or imports.”
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EUROPEAN JUNK BONDS SLIGHTLY edged out investment-grade debt in net prices linked to actual trades following a day after the
European Central Bank’s
decision
to hold interest rates. ECB President
Mario Draghi
said the economic outlook is
“getting worse and worse”
referring to manufacturing dragging the economy lower.
FTSE 100 +0.81%,
German DAX +0.44%,
CAC 40 +0.55%,
STOXX Europe 600+0.31%. The
10-year
Gilt lost 1.9 basis points.
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THE EUROPEAN CENTRAL BANK SIGNALED FOR ADDITIONAL MONETARY EASING in the months ahead resuming its
mass bond-buying program
in November. TD Securities Analysts say, The ECB
“is clearly preparing for a package of policy easing in September.” Negative interest rates have
rippled across Europe offering investors no incentives to purchase sovereign bonds.
FTSE 100 -0.20%,
German DAX -1.61%,
CAC 40
-0.82%,
STOXX Europe 600
-0.82%. The
10-year
Gilt advanced 2.1 basis points.
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