June 29, 2017
First-quarter GDP was revised 2 tenths higher to a still soft 1.4 percent annualized rate while the consumer spending component got a 5 tenths upgrade to a 1.1 percent rate that is, nevertheless, the softest in 4 years.
Stocks have been up and down this week and were down Thursday with the Dow losing 0.8 percent to 21,287. Treasuries sold off steeply overnight in month-end volatility then steadied in U.S. trade. The 10-year yield ended 5 basis points higher on the day at 2.27 percent. The euro, at $1.1439, continues to climb on strong European economic data, pulling the dollar index down 0.5 percent to 95.58.