(As of 7:20 am PST)
Markets are recovering after
two consecutive days of losses as investors digested retail sales data and
global bond markets calmed down after two volatile days. A report on US retail
sales showed sales were flat in April after analysts were calling for a slight
uptick from March’s data. In a separate report, import prices fell greater than
expected as a stronger dollar continued to make goods bought overseas cheaper.
Markets turned to the upside after two days of selling pressure amid
fluctuations in the global bond market. Yields on European debt have tightened
up today relieving some of the concerns investors had on Monday and Tuesday.
European stocks spent most of the day in the green while Asian equities
finished the day mixed. Gold and other precious metals are rallying today while
oil prices are also higher. The 10 yr. treasury yield is hanging between the
2.20% and 2.25% level today while the US dollar index is down.
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