April 19, 2017
Modest to moderate economic activity is still the Beige Book's call which isn't pointing to a rate hike for the May FOMC. Stocks were mixed with the Dow posting a sizable 0.6 percent loss to 20,404 but the Nasdaq a 0.2 percent gain to 5,863.
Money finally eased out of Treasuries with the 10-year yield up 4 basis points to 2.22 percent. The dollar rebounded slightly after losses on Monday and Tuesday ending at 99.79 for the dollar index and a 0.3 percent gain. Weekly oil inventories fell but so did prices with West Texas Intermediate down nearly $2 to $50.50. Gold, $1,280, fell back more than $10.