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Strong GDP revision sends rates higher

Published 11/29/2017, 08:51 AM
© Reuters.  Strong GDP revision sends rates higher
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  • The government revised its estimate of Q3 GDP growth up to 3.3% from 3%. That would be the fastest pace of quarterly growth in three years.
  • An upward revision to business investment - to 10.4% from 6.8% - was behind the bump higher. Consumer spending growth of 2.3% was little-changed from the initial estimate.
  • Though the upward revision was expected and news about Q3 is pretty long in the tooth at this point (we're closer to Q1 of 2018 than we are to Q3), the 10-year Treasury yield has moved up three basis points since the print, now higher by four bps on the session to 2.372%. TLT -0.8%, TBT +1.6%
  • Previously: GDP rises in-line with forecast (Nov. 29)
  • ETFs: TLT, TBT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, UBT, TLO, DLBS, VUSTX, TYBS, DLBL
  • Now read: Fresh 10-Year Flats


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