February 28, 2017
Tuesday's economic news is mixed led by the second estimate for fourth-quarter GDP which is unchanged at 1.9 percent though consumer spending got an upgrade to a 3.0 percent rate. Advance trade data were disappointing with January exports down and imports up which will be a negative for first-quarter GDP.
Rates jumped in late trade on a CNN interview with New York Fed President William Dudley who said the case for a rate hike is a "lot more compelling." The Fed meets next at mid-month where chances for a hike, given strong employment and rising inflation, were already substantial. The 10-year yield rose 4 basis points on the headline to 2.40 percent. And the winning streak for the Dow, at 12 sessions, is over with a fractional loss to 20,812.