Yee Haw!
By:
Matthew Graham
•
I tried to think of clever headlines for today's blog, but at the end of the brainstorming session "Yee Haw!" fit best.
The Data:
1.GDP| Real GDP - Quarter over Quarter Change | |
| Consensus | 0.7 % |
| Actual | 0.6 % |
| GDP price index - Quarter over Quarter | |
| Consensus | 2.6 % |
| Actual | 2.7 % |
2. JOBLESS CLAIMS
|
New Claims | |
| Consensus | 350 K |
| Actual | 373 K |
The weaker than expected GDP and Worse than expected Jobless Claims are fueling the buying of bonds that we saw ramp up into yesterday afternoon. The 5.5% FNMA Coupon is improved by 26/32nds currently. That's a good morning so far!
Right now Bernanke is testifying before the Senate Banking committee. The market can react to this, but today is an obvious "floater" until further notice.