April 25, 2017
Economic data are led by sizable strength in the housing sector where new home sales are at expansion highs and with FHFA and Case-Shiller price data showing increasing appreciation.
Word from President Trump that he favors a sharp cut in the corporate tax rate to 15 percent didn't hold back the stock market where the Dow rallied strongly for a second straight 1.1 percent gain to 20,996.
Money continues to ease out of the Treasury market where the 10-year yield rose several basis points to 2.33 percent. The dollar index slipped 0.3 percent to 98.78 reflecting strength in the euro and the pound.