Bonds Rise, Dollar Falls as Retail Data Cast Doubt on Rate Hike
- American retail sales little changed as wholesale prices drop
- U.S. stocks fall as trading volume sinks to lowest since March
What European Earnings Season Signals for Investors
Treasuries rallied, while the dollar fell after disappointing retail sales data in the world’s largest economy added to speculation the Federal Reserve will be in no rush to raise interest rates this year. American stocks dropped. Oil climbed.
Yields on two-year U.S. notes, the coupon maturity most sensitive to Fed policy expectations, posted the biggest decline in two weeks. Meanwhile, those for 10-year bonds briefly fell below 1.5 percent as the dollar retreated. The S&P 500 Index slipped after hitting an all-time high. Trading volume with American equities sank to the lowest level since March. Norway’s krone led the currencies of crude-exporting nations higher this week as oil had its best performance since April in the span.