Real Gross Domestic Product increased at an annual rate of +4.6% (consensus 4.6%) in the second quarter of 2014, according to today’s third estimate release. In the first quarter, real GDP decreased -2.1%. The increase in real GDP in the second quarter primarily reflected positive contributions from Personal consumption expenditures (PCE), exports, private inventory investment, non-residential fixed investment, state and local government spending, and residential fixed investment. Treasuries are seeing little reaction to the in-line GDP data and the curve has bear steepened with 2s10s up +0.7 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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