2017 Economic Calendar
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Market Reflections  

Highlights
April 18, 2017
Housing and manufacturing cooled off in March raising further doubt over the strength of the first quarter. Housing starts fell sharply last month with permits for single-family homes also down. Utility production did post a monthly record following February's warmth, but the manufacturing component posted a sharp decline.

Weak data aren't raising the ante for rate hikes which is a plus for bonds. Also raising demand for bonds are heightened tensions in Korea and uncertainty over Sunday's election in France. The 10-year yield, which fell very sharply last week, tightened by another 4 basis points to 2.18 percent. Lower yields are often a negative for the dollar which fell a sharp 0.8 percent to 99.52 on the dollar index. Money moved out of stocks as the Dow fell 0.6 percent to 20,523 to reverse much of Monday's 0.9 percent gain.


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