Summary

• The economy bounced back from near stagnation in Q4 25 (0.5% annualized pace) to 2% in Q1 26 and, perhaps, to 4.3% this quarter, if the Atlanta Fed's GDP tracker is accurate.
• According to Bloomberg, last week's high was 99.515, a thousandth of an index point from closing the gap created on the sharply lower opening on April 8.
• The dollar consolidated against the yuan in recent days but finished last week with its lowest settlement since May 14, when the three-year low was recorded (~CNH6.7815).
• Sterling posted ostensibly bullish outside up days on Monday and Wednesday last week by trading on both sides of the previous day's range and settling above its high.

The resilience of the US economy is remarkable. The economy bounced back from near stagnation in Q4 25 (0.5% annualized pace) to 2% in Q1 26 and, perhaps, to 4.3% this quarter, if the Atlanta Fed's GDP tracker is accurate. Wall Street economists