The Market at 15:23 ET10-Year: +4/32…2.41…EUR/USD: 1.0808USD/JPY: 111.02
Treasury Market Stands Its Ground
- St. Louis Fed President Bullard (non-FOMC voter): Inflation has essentially returned to 2% and is expected to remain there; the Fed can take a wait-and-see approach on fiscal policy changes; relatively low policy rate likely to remain appropriate; would be ok for the Fed to hike once more in 2017; you'd see weaker equities if the Fed gets too aggressive
- February Durable Goods Orders: Actual 1.7%, Briefing.com consensus 1.3%, Prior 1.8%
- Durable Goods Orders ex-trans: Actual 0.4%, Briefing.com consensus 0.7%, Prior -0.2%
- Treasury Secretary Mnuchin: Extraordinary measures will get us past the summer with respect to the debt ceiling
- San Francisco Fed President Williams (non-FOMC voter): Sees three or four rate hikes in 2017
- New York Fed President Dudley (FOMC voter): We're pretty close to both Fed objectives; may have inflation problem if UE gets much lower; U.S. economy in a "pretty good place right now"