The highlight of today's economic data was stumbling Real GDP growth which printed at 0.70% vs. 1.00% consensus. This indicates that US economy expanded at the worst pace in three years last quarter which puts all the more significance on next week's payroll numbers. On the other hand, Chicago PMI came in at 58.30 vs. consensus of 56.20, signaling expansion. University of Michigan survey showed consumer sentiment was slightly changed in April at 97.00 vs. 98.00 prior.
On top of aforementioned Non-Farm payroll data being released next week, FOMC rate decision will also be released on 5/3/17 at 11:00 AM (PT).
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The highlight of today's economic data was stumbling Real GDP growth which printed at 0.70% vs. 1.00% consensus. This indicates that US economy expanded at the worst pace in three years last quarter which puts all the more significance on next week's payroll numbers. On the other hand, Chicago PMI came in at 58.30 vs. consensus of 56.20, signaling expansion. University of Michigan survey showed consumer sentiment was slightly changed in April at 97.00 vs. 98.00 prior.
On top of aforementioned Non-Farm payroll data being released next week, FOMC rate decision will also be released on 5/3/17 at 11:00 AM (PT).
The curve has bear steepened with UST 10-Year yield up 1.4 bps.
Have A Fantastic Weekend!