Soft releases from Google and IBM have weighed on markets into the NA long weekend. Accordingly equities are off to a softer start, the U.S. 10year has dropped to 2.63% and the USD is mixed. Yesterday’s comments from Chair Yellen maintained a dovish tone, noting that the Fed is seeing meaningful progress but haven’t reachedits goal yet; in addition she sees the risk of inflation undershooting its goal as the bigger risk. The Fed has now entered its quiet period ahead of the April 30th FOMC meeting. Today’s data is unlikely to shift the broad direction of markets
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