Trump hones his GDP tip: Not 5.3%, but "if it has a 4 in front of it, we’re happy"

US Q2 GDP is due on Friday 27 July 2018 at 1230GMT

I posted a preview way back on Monday:

• This week we get US Q2 GDP, and some estimates are getting cranked right up

And then I got trumped by the Presidential leak:

• Trump said to be telling associates of a 4.8% GDP print for Q2 - report

I soldiered on, though, with more preview:

• US GDP data due this week, preview (in case you missed Trump leaking it that is)

But, again, Mr T. giving the inside info, this from the Wall Street Journal:

• "Somebody actually predicted today 5.3 [percent growth]" he said during a rally at a steel plant here. "I don't think that's going to happen." But, he continued, "if it has a 4 in front of it, we're happy. If it has like a 3, but it's a 3.8, 3.9, 3.7, we're OK."

WSJ is gated but here is the link if you an access it

Market expectations are that the front loading in Q2 will be very much unwound in Q3 and Q4:

• Morgan Stanley says US GDP growth will be strong, but it won't last

Q3 GDP will be released just prior to the US election in November. Gonna need something to distract from the fall in growth that is expected. How about this?

• Trump could be ready to order a strike on Iran

You know they are thinkin' about it, right?