U.S. Bond yields fell after mixed data that affirmed market concerns about U.S.
inf while showing softer growth. April durable goods orders rose 7.9% vs Wall
Street Journal consensus 3.5%, largely driven by a surge in non-defense aircraft
orders. Q1 GDP second estimate was unexpectedly revised down to 1.6% from 2.0%.
Weekly initial jobless claims rose to 215k (from a revised 210k), above
expectations. PCE inf rate accelerated to 3.8% from 3.5% as expected. The
10-year U.S. Bond yield is at 4.485% (pre-data 4.508%); the 2-year is 4.045%
(pre-data 4.070%).
