Posted To: MBS Commentary
From armchair economists to respected bond market analysts, there was a lot of "chatter" about the potential for today's GDP reading to come in much lower than forecast. Many of those arguments relied on things like the Atlanta Fed's GDPNow index which stood at 0.2% yesterday. As it happens, the decimal point needed to be moved to the left (actual GDP came in at 2.0%). While that was still below the 2.7% forecast, it wasn't the "near zero" number that was being entertained on Wednesday. So far this morning, it looks like this was neither weak enough for the rally to continue nor strong enough for a big scary reversal in bonds. In fact, there really wasn't any discernible reaction to the data at 8:30am. ECB President Christine Lagarde's press conference…(read more)
Source: Mortgage News Daily
