May 11, 2015
U.S. stocks pulled back Monday...
...after stalling earlier near all-time highs, just a day after rallying the most in two months on Friday after jobs data. Federal Reserve Bank of San Francisco President John Williams reiterated today that policy makers could raise rates at any meeting, depending on economic data. Renewed strength in global bond yields were partially attributed for the late day slide, as German bunds and other euro-region sovereign debt declined as China cut interest rates (3rd time in 6-months). The next major market catalyst, tomorrow’s Greece deadline to repay the IMF $837M, while earnings in the retail space grab headlines as well.
HammerstoneReport Closing ReCap -5/11/15