Gains in Michigan consumer data and strong existing home sales forced new lows. But those lows held, and the pullback lacked follow-through, so the weekend flight to safety surfaced. Explosives found in a car at Istanbul Airport, along with a deal pricing also helped the bid, but faded by the close.
Markets & Finance
Treasuries End Unchanged
Treasuries ended unchanged. They opened modestly higher, led by weaker German IFO. Foreign retail was on both sides, but profit-taking dominated in Tokyo. Modest selling emerged on the New York open as final first-quarter U.S. gross domestic product rose 3.9%, missing expectations for a rise of 4.4%. However, the PCE deflator revised to up 3.2% from 3.0%, suggesting inflation was rising at faster than expected pace in the first quarter.