Yields are sliding but US economic indicators are improving. Here’s what’s driving the bond market …

retail sales rose nearly 10% in March, the second largest increase on record, aided by the federal pandemic relief checks sent to Americans.

The drop in 10-year Treasury yields is “very surprising,” according to Jeff Schulze, an investment strategist with ClearBridge Investments. “It’s not the reaction that I would have expected given the huge beat in retail sales” and the drop in jobless claims, he said in an interview.

…Read the full story