The U.S. economy continues to show incredible resilience👍🏻👍🏻
The U.S. economy continues to show incredible resilience, with the number of initial jobless claims unexpectedly strong and the final value of first-quarter GDP also revised up significantly; the number of initial jobless claims (+239,000) is higher than all forecasts shown on Bloomberg The values are all low, and it is the largest decline since October 2021. In addition, based on strong consumer spending and net export value adjustments, first-quarter GDP was also revised upward to 2% from the initial value of 1.4%.
Coupled with higher-than-expected inflation in Spain and Germany, bond yield pricing has adjusted strongly, with the 2-year yield rising 16 basis points on the day, the December 2024 OIS rising 23 basis points, and the terminal yield rising to 5.40% (the result of the collapse of SVB the highest level since 2018), and the 2/10-year yield curve once again inverted to over -100 basis points.
#GDP #SVBBank
The U.S. economy continues to show incredible resilience, with the number of initial jobless claims unexpectedly strong and the final value of first-quarter GDP also revised up significantly; the number of initial jobless claims (+239,000) is higher than all forecasts shown on Bloomberg The values are all low, and it is the largest decline since October 2021. In addition, based on strong consumer spending and net export value adjustments, first-quarter GDP was also revised upward to 2% from the initial value of 1.4%.
Coupled with higher-than-expected inflation in Spain and Germany, bond yield pricing has adjusted strongly, with the 2-year yield rising 16 basis points on the day, the December 2024 OIS rising 23 basis points, and the terminal yield rising to 5.40% (the result of the collapse of SVB the highest level since 2018), and the 2/10-year yield curve once again inverted to over -100 basis points.
#GDP #SVBBank