The March report of the Chicago Fed National Activity Index reaffirms what’s been obvious for some time: US economic activity in this year’s first quarter has been soft. It’s premature to interpret the slowdown as anything more than another bump in an otherwise challenged and ongoing recovery. That, at least, seems to be the message via Treasury yields.
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● US Economic Activity In March Brakes Hard As Manufacturing Weighs | IBD
● The U.S. Economy Keeps Disappointing | Bloomberg
● Fed’s Bill Dudley: alert to global liquidity storm, yet signals 3.5% rates | Telegraph
● ZEW: German economic outlook index dips in Apr–1st time since Oct 2014 | ZEW
● ZEW: Eurozone economic outlook index ticks higher in April | ZEW
● Hopes of Greek Riga deal fade | Reuters