July 25, 2017
Economic news is headed by monthly slowing in both FHFA and Case-Shiller home prices, moderation that improves affordability and may be a positive for the housing sector. Other data include consumer confidence which, unlike the consumer sentiment report, is holding firm at 17-year highs.
Stocks moved higher with the Dow posting a 0.5 percent gain to 21,613. Oil was a big mover, getting a lift from Saudi confirmation of output cuts. Demand for Treasuries, which has been strong, eased today with the 10-year yield up 6 basis points to 2.33 percent.