Eat Sleep Trade Repeat
-
Markets Today – Is it really so bad?
Stronger than expected US data pushed US yields higher and supported a broadly stronger US dollar on Friday. Stronger than expected earnings results from big banks also supported the moves, with Financials outperforming despite a small fall in the S&P500. Friday’s gain in the dollar, up 0.5% on the DXY, unwound Thursday’s move lower, but leaves the DXY 0.5% lower over the week. In the data flow, retail sales on Friday showed spending down 1.0% m/m in March, sharply below the -0.5% consensus. But the narrower measures were more resilient than expected . Ex autos and gas, retail sales fell just 0.3% m/m ... (full story)