April 13, 2018
The week ends with mixed economic news. Job openings in the JOLTS report proved solid but hiring is lagging while consumer sentiment is easing back as are inflation expectations.
The Dow slipped 0.5 percent Friday to 24,360 to trim the week's gain to a still very strong 1.8 percent. Concerns over a military strike in Syria gave oil a big weekly boost, up 8.6 percent to $67.31.
Rates are moving higher especially short rates which may hint at rising expectations for Fed rate hikes. The yield on the 2-year Treasury note jumped 9 basis points in the week to 2.36 percent and is once again nearing the 10-year yield of 2.82 percent which was up 4 basis points on the week.