It’s A Jumble Out There

Risk assets turned to be in favor this week even as trade tensions between major economies festered and growth fears dragged on. Investors got in a buying mood as the administration gave positive hints about efforts to reach trade deals with Canada and Mexico. The White House is also reportedly willing to delay new tariffs on car and auto parts from Europe by six months. Positive news, but still no end in sight for ongoing battles with China over trade. On the earnings front, both Cisco Systems and Walmart reported solid numbers and data on housing came in strong. It’s clearly a mixed bag out there as U.S. 10-year Treasury yields came in significantly during the week and hit 2.36 percent. On Thursday they moved up slightly to 2.40%, down 19 basis points for the month and 69 basis points from a year ago.