“As you were, men”

Week ending Friday 12th May 2017 Monday’s relief rally #2 on the establishment in France winning over LePen lasted about a week. All it took was a bit of dull data from US inflation and US retail sales to see US bond yields back to where they were at the start, or even lower. They fell back to nearly where they were before the FOMC statement on May 3rd that weakness in US growth was merely transitory. 2017Q2 is shaping to be as weak as Q1 as the expenditure version has got off to a bad start with poorer than…

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