March 14, 2018
Consumer spending opened January weakly and today's retail sales data point to a soft February as well. The big tax cut may be helping consumer confidence but it has yet to translate into higher spending. The Dow fell for a third straight day, down 1.0 percent to 24,758 to bring its weekly loss to 2.3 percent. It's been a good week for bonds with the 10-year Treasury yield edging lower to 2.82 percent for an 8 basis point dip so far this week.