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Q3 GDP Tracking: Flyin' Blind is Scary!
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From BofA:
Since our last weekly publication, *3Q GDP tracking remains unchanged at
2.8% q/q saar*. [October 31st estimate]
emphasis added
From Goldman: ...
16 hours ago
4 comments:
Long term trends continue until they don't.
In my opinion, long-term bond yields are acting like radioactive decay. The trend can continue until there’s nothing left.
In theory. the Japanese and many Europeans will laugh at our folly while welcoming us to their nothingburger yield club.
In practice, almost anything can happen, of course.
New I-bond rates dropped. New issue is 7.12% for next 6 months!
Fixed rate still 0 though. Not sure if that makes the 7.12% more impressive or worse.
Allan,
Not sure if that makes the 7.12% more impressive or worse.
It’s very impressive illusionary prosperity but not at all impressive real prosperity. ;)
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