Economic and Fixed Income Insights, November 5, 2019

The U.S. labor market beat expectations in October, adding 128,000 jobs vs the 85,000 expected, according to Bloomberg. In the details, hourly earnings were up three percent from the year prior. In the markets, rates remain volatile and finished the week slightly higher as market optimism soars on the prospect of a phase one deal between the U.S. and China. The benchmark ten-year Treasury finished two basis points higher for the week to yield 1.86 percent. Tax-exempt yields finished slightly lower, lagging behind the moves in the taxable market.

Interest Rate Observations

Source: Thomson Reuters, Bloomberg. The table above reflects market conditions as of November 5, 2019.

Important Disclosures

This material was prepared by Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting; tax or legal advice and clients are advised to consult with their accounting, tax or legal advisors prior to making any investment decision.


Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member FINRA, NYSE & SIPC. © 2019