Moreover, "the decline in investment spending "doesn't bode well for the second quarter GDP," either, says Ian Lyngen, head of U.S. rates strategy for BMO Capital Markets.
Tax reform, not trade, will save America →
"I would characterize it as a loss of excessive risk appetite," said Ian Lyngen, an interest-rate strategist at RBS Greenwich Capital. "There is a lot more apprehension about layering on riskier assets."
Fearful investors rush to safer ground →