The big upward revision to Q3 GDP to a 5.2% growth rate was generally taken in stride. Treasury yields remain lower, with the front end down sharply, even after plunging yesterday on the dovish read to Fedspeak from Governor Waller who was once one of the most hawkish. The markets ignored Governor Bowman’s reiteration that she favors rate hikes if inflation progress stalled. Adding to the bullish tone today is the larger than expected decline in German HICP inflation.
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Andria Pichidi
Market Analyst
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