The third estimate for the first quarter GDP came in at 1.4% growth, slightly higher than the previous guess of 1.2%. At the same time, the GDP Price Index fell from 2.2% to 1.9%.
Initial Jobless Claims were reported at 244,000, higher than expectations, and higher than last week’s 241,000 claims. The Jobs Report comes out next Friday.
Mortgage Bond pricing has fallen 50 bps over the last three days, putting upward pressure on interest rates. There is no quantifiable stimulus for the global bond yields moving higher, apart from the ECB President’s comments the other day saying that they would. It’s like the foreshadowing of the guy who painted the orange flames on this truck