January 23, 2018
Richmond Fed reports modest slowing in what is otherwise another strong regional factory report. Stocks were mixed with the Dow posting a fractional loss to 26,210 but the Nasdaq a sharp 0.7 percent gain to 7,460 and another new record.
Talk that the Bank of Japan won't ease up on bond buying after all raised demand for Treasuries where the 10-year yield fell 4 basis points to 2.61 percent. Oil jumped more than $1 to $64.75 on talk that OPEC may extend production cuts while the dollar index fell 0.3 percent to 90.90 reflecting strength in the euro which is near $1.2300 at $1.2297.