“With just two days left until the end of the third quarter, what happened in Q2 will hardly provoke a market reaction, which is why when the BEA announced that the third and final Q2 GDP print was revised from 3.0% to 3.1%, (or specifically from 3.049% to 3.06%) it hardly inspired a move in risk assets, even though it did come in fractionally better than the 3.0% expected, and more than double the 1.2% Q1 GDP print.”
More details at the link but let me remind you that when Trump said he was going to goose the GDP to 3% from the absolutely miserable Obama historical of the “new normal” of 1.8%, derision and scoffing ensued. Now, things keep going up as the “animal spirits” wake up from the long slumber. Will it continue? Dunno and one can’t judge on a single quarter. Two more like it, though, and a lot of people will be out looking for crow feathers.
(H/T: Zero Hedge)
