Weekly research notes covering the full spectrum of asset classes

Market Commentary 03/29/2019

March 29, 2019 / Luca Stanzani Ghedini

Currency:The pound edged higher nudging above weekly lows. This was due to May’s final attempt in trying to pass her Brexit deal at the Commons by stating she would step down if her deal were approved. Ahead of the London open the pound was up 0.2% against the dollar trading at $1.3076. The Euro is up 0.12% trading at $1.1232 while the Yen is up 0.1% trading at $110.72. 

Bonds: The resumed trade talks between the U.S. and China have been perceived as a positive sign from many investors. U.S. government debt prices were lower on Friday morning with the 10-year note yielding 2.402% and the 30-year Treasury bond at 2.823%. 

Commodities:Oil prices saw an increase as OPEC+ coalition’s production cuts supported prices.WTI Crude ($60.17) and Brent Crude ($68.68) up 1.47% and 1.27% respectively.

Stocks: Stocks climbed globally on Friday rounding out a strong quarter. The strongest increase can be found in the Shanghai composite which jumped 3.2% following U.S. and China trade talks. The FTSE 100 is currently up 0.35% while the STOXX Europe 600 Index is up 0.46%. 

News: Today we’ll be seeing the first of a series of expected 2019 unicorn IPOs. Starting today the ride-sharing company Lyft, valued at $24bn, will be trading at $72 a share. The outcome of the transaction will serve as an important benchmark for one of Lyft’s main competitors, namely Uber, which should also be going public this coming year. Other expected unicorn listings include that of image-sharing platform Pinterest and messaging company Slack.