There have been a number of economic reports in the last two weeks that have been weaker than expected creating a growth scare. Retail Sales in January fell -0.9% which was much weaker than the forecast dip of -0.2%. This raised concerns that consumer spending was starting to falter. The S&P Global Services PMI dropped below 50 for the first time since the fourth quarter of 2023. Since services comprise 80% of GDP the weakness in the report was recognized and helped Treasury yields decline significantly last week....
