Scoreboard: Fed downer

Wall Street edged lower on weak personal spending data and St. Louis Fed President James Bullard’s comments that the Fed could hike rates sooner than expected.

Not a great night on either side of the Atlantic -- equities sold off, while bonds rallied further. Markets appear to be increasingly concerned about US growth prospects following that weaker-than-expected first quarter print. Not that data out last night was too bad or anything. Jobless claims remain low at 312,000 (down 2000 in the week to June 21). Yet neither was there anything to give sentiment a lift -- consumer spending was also weaker-than-expected.



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