August 1, 2018
A hawkish edge describes the FOMC statement which, though holding rate policy steady, upgraded the growth of the economy from solid to strong with household spending the key driver. Markets showed limited reaction though the statement points perhaps to more, certainly not fewer, rate hikes ahead.
Treasury yields are inching higher with the 10-year back at 3.00 percent. The dollar index also inched higher, up 0.1 percent to 94.65. Oil slipped $1 and is back near $68 with gold down slightly at $1,225. The Dow slipped 0.3 percent to 25,333.