Markets are looking past the negative headline on the US GDP report, citing more robust internals. Heavy revisions are expected as December data becomes available at gets plugged into the Bureau of Economic Analysis’ model. US 10 year notes are … Continue reading
Having just adopted employment and inflation targets at the December FOMC meeting, expect the Fed to adopt a wait and see (and print) attitude at its first meeting in the new year. Though there has been some improvement in the … Continue reading
-0.1% q/q, -0.4% y/y For the year 2012, GDP fell 0.2%, according to the central bank More summits is the obvious antidote…
EUR/GBP is finally seeing some profit-taking, helping give cable a major short-covering boost. Sellers are seen in good size in the 1.5810 area but stops are building above 1.5825/30. Cable being cable, it will probably rally just far enough to … Continue reading
One of the major drags on US GDP in Q$ was a draw-down in business inventories. At some point those inventories will have to be rebuilt, which will add to GDP in the future. Also on the bright side was … Continue reading
The shockingly soft US GDP data has put bids at the 90.50/60 level into play. In AUD, we hear bids at 1.0400 and 1.0375/80, should we see a more classic risk-off selloff.
Defense cuts blamed for negative print Core PCE up 0.9%, as expected For the full year 2012, US GDP grew 2.2% US yields are falling, back below 2%, now at 1.99%. USD/JPY is seeing a shake-out as a result, now … Continue reading
Mr. Market expects right around 1.0% growth at an annualized rate in Q4 from the US.