Economic Data

The Atlanta Fed's GDPNow tacker is already showing some pretty robust numbers for Q3 GDP growth.

Today's daily includes stories on the global economy, inflation, monetary policy and trade.

The magnitude of the revision is eye-catching. And my inner sceptic wonders how the initial data reads could have got it so wrong.

This report was the first under a major revision to reporting of US economic data. The personal savings rate stood out.

Daily newsletter post with thughts on the latest GDP numbers, a US-EU trade deal and the earnings numbers coming from social media companies

This is Credit Writedowns daily newsletter for 19 Jul 2018. The big issues: the US economy, Fed policy, currencies, trade and government deficits.

There is no need for doom and gloom yet. Right now, it's about as good as it gets.

Global equities have rallied.  Of course,  stock prices are not the end all and be all, but it stands in stark contrast to the cries that the sky is falling.

The Fed is likely to continue to talk up the US economy. And I believe markets will react. With the yield curve at 32 basis points spread between 2- and 1-year Treasuries, we still have scope for further curve flattening.

GDPNow for the second quarter is still at a breathtakingly high 4.5%. And it's beginning to look like we are going to come in well above 3% growth for the quarter. Consensus estimates are at 3.5%. Meanwhile the yield curve continues to…