Treasury Closing Summary:
Treasury Closing Summary: so much for rising worries over Fed normalization and a less accommodative policy posture. Disappointing data on June retail sales and CPI, on the top of cautious comments from Yellen, pretty much eliminated the risk for any near term action by the Fed (not that there was much) and pushed out the next rate hike into 2018, according to Fed funds futures. Treasury yields dropped sharply on the data, led by the belly, but edged higher through the session on profit taking, rate locking, and comments from the Fed's Kaplan. Stocks ended up rallying nicely, but it took awhile. The Dow closed at its 25th record high of the year, above 21,600 for the first time to 21,640. The S&P also hit a record at 2,463. The dollar continued to suffer, however. Trading volume was on the low side amid summer conditions. View the summary.