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The S&P/Case-Shiller 20-city index rose 5.7% in the three-month period ending in April compared to a year ago, down two ticks from the 5.9% annual gain notched in March. Economists had expected the 20-City index to increase 5.9% for the year.
READ MOREJune Consumer Confidence 118.9 vs. estimates of 116.7Consumer and business confidence, which spiked after the election, has remained near these high levels, though both readings have gotten less attention from markets of late as the story there hasn’t changed. Additionally, both these surges were seen as potential harbingers of increased consumer spending or business investment,
READ MOREDurable-goods orders slipped 1.1% last month following a similar drop in April and registered the biggest drop in six months, suggesting that an early-year surge has faded.
READ MOREContinuing Jobless Claims 1.944M vs. estimates of 1.928M. Fewer than 250,000 Americans applied for unemployment benefits in mid-June, underscoring the strength of a U.S. jobs market whose biggest problem is a growing shortage of qualified workers. The strong labor market is a reflection of a steadily growing economy that’s still quite sturdy after eight years
READ MOREU.S. Treasury yields traded slightly lower on Tuesday, as Boston Federal Reserve President Eric Rosengren said investors may need to get accustomed to a protracted period of low interest rates. In a speech in Amsterdam, Rosengren said lower rates may be a more permanent fixture, and that dynamic could pose financial stability risks that central
READ MOREBoston Fed President Eric Rosengren said Tuesday that low interest rates do pose financial stability concerns that central bankers and the private sector must take seriously. In a speech in Amsterdam to a conference co-sponsored by the central banks of Sweden and the Netherlands, Rosengren said lower rates may be a more permanent feature on
READ MOREU.S. Treasury yields traded slightly lower on Tuesday, as Boston Federal Reserve President Eric Rosengren said investors may need to get accustomed to a protracted period of low interest rates. In a speech in Amsterdam, Rosengren said lower rates may be a more permanent fixture, and that dynamic could pose financial stability risks that central
READ MOREChicago Fed President Charles Evans said the central bank could be done raising rates this year, offering a relatively dovish stance. The central bank official, who is a voting member this year of the Fed’s policy-setting committee, said he supports the current policy of “very gradual” interest-rate hikes and a slow reduction of the balance
READ MORENew York Fed President William Dudley struck a more hawkish tone, arguing against slowing the pace of interest-rate increases, and describing the U.S. economy as “pretty good.” Dudley’s remarks on Monday were cited as adding to yields extending gains following the Fed’s Wednesday announcement of its plan to shrink it balance sheet as it cut
READ MOREThe UMich consumer sentiment gauge fell to 94.5 in early June from 97.1 in May. Economists surveyed by MarketWatch had expected a slight increase to 97.3. Instead, it is the lowest reading since November.
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