US consumers continue to disappoint
Spending missed estimates, though the market reaction was minimal
Personal spending was unchanged in March, vs. a consensus estimate of a 0.2% gain (although real personal spending was up 0.3% vs. an estimate of 0.4%). Personal income rose 0.2% vs. an estimate of 0.3%. Market reaction was minimal. Long bond yields in the US were unchanged and the US dollar trade-weighted index DXY lost 0.2%.