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Commentary for 3/18/2019

Altavest Commentary for 03/18/2019

A Xinhua news report indicated that both sides have made “concrete progress” on the text of a trade deal. Still, the prospect of a face to face meeting between Presidents Trump and Xi appears to have been pushed back until June. The Shanghai Composite soared +2.47% while the Nikkei 225 added +0.62%.
European equities were mostly higher. The DAX fell -0.25%. Yields on 10-yr. Bunds fell back to 0.080%.
The March NAHB Housing Market Index was steady at 62.
Yields on 10-Year Notes edged up to 2.603%. The June US$ Index eased to 95.985. April gold lost -0.1% to $1,301.50. April crude continues to rise, up +1.0% to $59.09.
Equities began the day in neutral, with Boeing continuing to drag on the DJIA. A positive tone then sent markets modestly up to new highs for this move. A wave of selling, perhaps prompted by Brexit concerns erased the early gains, but selling subsided and markets began to drift back higher. Volumes were light but buying was steady well into the afternoon. In a day of very tight ranges, markets finished the day strong, but with only modest gains.

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