2018 Economic Calendar
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Market Reflections  

April 30, 2018
Inflation is suddenly at target, up 3 tenths for the core PCE price index to 1.9 percent and at 2.0 percent for the overall price index. Yet the improvement is getting a boost from easy comparisons with very soft prices this time last year. The monthly rates, at plus 0.2 percent for both the core and overall PCE indexes, remain very subdued. Still, the results suggest that the Fed is achieving its inflation goal which hints perhaps at a less-than-gradual path of rate hikes.

The dollar moved higher on the day, up 0.3 percent to 91.88 on the dollar index, but interest rates showed very little movement with the 2-year Treasury yield ending at 2.48 percent and the 10-year at 2.95 percent. Stocks were mixed until selling hit late in the session. The Dow slipped 0.6 percent to 24,163.

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