Rates Spark: No brain steepeners exposed to reversals | Metals Mine

  • Rates Spark: No brain steepeners exposed to reversals

    From think.ing.com

    Thursday saw firmer US data than anticipated. Second-quarter GDP was revised up a smidgen to 3.3% (from 3.1%). These data have been distorted by net import gyrations on the back of the tariff games being played by importers. The same swings can be seen in inventories. Consumer spending was quite tame though, at 1.6%, which is a better measure of where the economy really is (technically a growth recession). Jobless claims came in at 229k, and the previous week was revised down. The same for continuing claims. Stop the music here and these claims numbers are actually a sign of a solid labour market. Yields across the ... (full story)

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