10-05-18 Weekly Bottom Line
- The big story of the week is the trade deal struck just in the nick of time between U.S. and Canada. The new USMCA deal will see Canada joining the agreement previously worked out between the U.S. and its southern neighbor and calms some fears, particularly among auto manufactures in the region.
- Overall manufacturing activity, though still hot, dialed back the temperature a bit in September. The services sector however, continued to increase the heat, coming in at an all-time high with price pressures edging up.
- The 134K gain in U.S. employment was less than expected, but the unemployment rate is at a near 50 year low, pushing bond yields up after its release.
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