Feb 28 2014

U.S. GDP REVISED DOWN, BUT HINTS OF ECONOMIC THAW EMERGE

Consumer sentiment rose modestly in February, while factory activity in the Midwest edged up after three months of slower growth. In addition, contracts to buy previously owned homes nudged up in January after being on a downward trend since July. "That suggests some stabilization in economic activity," said Millan Mulraine, deputy chief economist at TD Securities in New York. "It bolsters the current narrative that the slowing in activity has been the result of the unseasonably cold winter conditions, which we expect to reverse in coming weeks."

The mixed data buoyed U.S. stocks, but they gave up some gains late in the session on rising tensions in Ukraine. The Standard & Poor's 500 index closed at a record high for a second straight day.U.S. government debt prices fell, although they pushed off the day's lows in late trade. The dollar weakened against a basket of currencies.

  

  

Rate Range Projection by Bank

 

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