2017 Economic Calendar
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Market Reflections  

Highlights
March 3, 2017
Janet Yellen didn't back away from raising expectations for a rate hike at the FOMC later this month, acknowledging that the labor market is at full employment, that inflation is moving to target, and that a hike at the March meeting is in play. The day's economic news is led by standout strength in the ISM non-manufacturing report where readings, as in so many other anecdotal reports, are making cycle highs.

Despite Yellen's hawkish tone, Treasury yields fell late in the session as did the dollar. But selling in Treasuries was heavy earlier week especially for the 2-year where the yield ended Friday at 1.31 percent for a giant increase of 18 basis points on the week. The dollar index erased gains at mid-week but still ended the week higher, up 0.2 percent at 101.38. The Dow was little changed Friday and ended the week at 21,005 for a sizable 0.9 percent gain.


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