Headlines discussed at LNWM’s Monday morning briefing:
— Signs of slowing economic growth in Europe pushed down the euro and other local currencies.
— US GDP growth for 1st quarter 2018 was 2.3% (initial estimate), down from 2.9% in 4th quarter 2017.
— The yield on 10-year US Treasuries rose past 3%, causing concern about inflationary pressures.
— US equities lost momentum on concern about the impact of rising interest rates, earnings.
— Emerging market bonds were hurt by strength in the US dollar; impact on commodity prices.