JUNK BONDS GAINED AGAINST ITS INVESTMENT-GRADE counterparts in net prices linked to actual trades as
appetites for risk improve. Durable goods orders increased in January
lifted by a surge in orders
for commercial aircraft and commercial transportation vehicles. The
10-year U.S. Treasury note gained 0.8 basis points and the
30-year note
rose 0.2 basis points.
S&P
+0.78%,
Dow
+0.56%,
NASDAQ+0.78%
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EUROPEAN SHARES ADVANCED HIGHER
as investors hope the UK rejects no-deal Brexit. This
induced the
British pound
to
rally
by half a percentage point
. UBS Analyst stated, “UBS’s Wealth Management Group remain cautious with client’s assets and are avoiding short-term rallies in the pound, and reducing exposure to UK equities.” Investment Bank, JP Morgan
reduced the probability of the UK leaving the European Union to
35 percent from 45 percent. Despite the
optimistic environment, Japan’s machinery orders
fell in January at the
fastest pace in four months causing downward pressure on the Nikkei. The
Australian
dollar skidded lower after a consumer confidence gauge triggered
concerns about a slowing economy. The UK 10-year Gilt rose 2 basis points.
FTSE 100, +0.11%,
STOXX Europe 600 +0.51%,
CAC 40
+0.65%,
German DAX
+0.65%.
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HUMBLE INFLATION DATA released on Tuesday affirms the Feds “patient” stance on interest rate hikes. The Consumer Price Index edged up 0.1 percent excluding food and energy, marking the smallest increase since late August of 2018. “We view the risks to the inflation outlook as weighted to the downside as the domestic economy has slowed more quickly than we had expected,” Senior Economist at Moody’s. The 10-year U.S. Treasury note dipped 4 basis points and the 30-year note sank 3.7 basis points. S&P +0.33%, Dow -0.34%, NASDAQ +0.47%
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HUMBLE INFLATION DATA released on Tuesday
affirms the Feds “patient” stance
on interest rate hikes. The
Consumer Price Index edged up 0.1 percent
excluding food and energy, marking the
smallest increase
since late August of 2018.
“We view the risks to the inflation outlook as weighted to the downside as the domestic economy has slowed more quickly than we had expected,”
Senior Economist at Moody’s. The
10-year U.S. Treasury note dipped 4 basis points and the
30-year note
sank 3.7 basis points.
S&P
+0.33%,
Dow
-0.34%,
NASDAQ
+0.47%
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IRISH SHARES OUTPERFORMED THE REST OF THE EUROZONE after
Britain and the European Union
agreed to alterations on Britain’s withdrawal agreement, which eased some
fears of no-deal Brexiton March 29.
Dublin’s ISEQ climbed 1.4 percent, set for its biggest gain since Feb. 5.
Head of European Equities at German asset Manager DWS stated, “Positive momentum in the markets will continue once we know what the final outcome of Brexit is going to be.”
The British pound is at a critical level of 1.31 against the U.S. dollar. “Anything above this level is seen as Brexit certainty by investors
, whilst anything below is seen
as Brexit uncertainty, mentioned Hamish Muress, a Currency Analyst at OFX. FTSE 100 +0.20%,
STOXX
Europe
600 -
0.01%,
CAC 40 +0.14%,
German DAX -0.16%.
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EQUITIES CLIMBED HIGHER as a possible U.S. and China trade agreement could soon be accomplished. Beijing’s top central banker stated, “China had agreed not to devalue its currency to support its exporters.” Shares of Boeing contracted after a 737 operated by an Ethiopian airline crashed when taking off from the capital of Addis Ababa on Sunday. U.S. consumers ramped up their spending in February on durable and non-durable goods, a sign of economic growth in Q1 of 2019. The 10-year U.S. Treasury note increased 0.5 basis points and the 30-year note rose 1.4 basis points. S&P +1.25%, Dow +0.70%, NASDAQ +1.84%.
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EQUITIES CLIMBED HIGHER as a possible U.S. and China trade agreement could soon be accomplished. Beijing’s top central banker stated, “China had agreed not to
devalue its currency to support its exporters.”
Shares of Boeing contracted
after a
737
operated by an Ethiopian airline crashed when taking off from the
capital of Addis Ababa on Sunday. U.S. consumers
ramped up their
spending in February on durable and non-durable goods, a sign of
economic growth in Q1 of 2019. The
10-year U.S. Treasury note increased 0.5 basis points and the
30-year note rose 1.4 basis points.
S&P +1.25%,
Dow +0.70
%,
NASDAQ +1.84%.
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EUROPEAN MARKETS TICKED UP ON MONDAY as investors await a
critical Brexit vote
on Tuesday regarding Prime Minister Theresa May’s deal. European officials revealed there was no progress this past weekend,
“May has boxed herself even deeper into a corner, it seems the second meaningful
vote will go ahead on Tuesday but it also seems like it won’t be the last meaningful vote on this”. May, once again,
faces a landslide defeat in Parliament
if she does not delay the vote. Financial firms are estimated to shift an
immense $1.2 trillion in assets from the UK to the European Union. The
UK 10-year Gilt
dipped 1.4 basis points.
FTSE 100 +0.28%,
STOXX Europe 600 +
0.45%,
CAC 40 -0.48%,
German DAX +0.42%
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EQUITIES MARK THEIR FIFTH CONSECUTIVE DAY OF DECLINES as investors react to a weak jobs report igniting concerns of a cooling economy. Jonathan Hill, from BMO Capital remained positive, the “Treasury yield moves speak to willingness to look through this”. Despite the poor report, treasury yields remained stable, the 10-year U.S. Treasury note dipped 1.2 basis points and the 30-year note sank 1.4 basis points. S&P -0.81%, Dow -0.78%, NASDAQ -1.13%
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EQUITIES MARK THEIR FIFTH CONSECUTIVE DAY OF DECLINES as investors react to a weak jobs report
igniting concerns of a cooling economy. Jonathan Hill, from BMO Capital remained positive, the
“Treasury yield moves speak to willingness to look through this”. Despite the poor report, treasury yields remained stable, the
10-year U.S. Treasury note dipped 1.2 basis points and the
30-year note
sank 1.4 basis points.
S&P
-0.81%,
Dow
-0.78%,
NASDAQ
-1.13%
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Topics:
High Yield,
Analytics,
bonds,
bond market,
market analytics,
research,
market update
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