Posted To: MBS Commentary
There’s been a lot of talk about GDP recently, but it’s important to keep in mind that most of it has to do revised GDP estimates for the first quarter of 2015 due to some recently weak economic data. The thing being reported today is the final revision of 2014’s 4th quarter GDP, which is expected to come in at 2.4%, an upward revision from the previous reading of 2.2% With all the focus on seemingly already shifted to Q1 2015, will today’s data matter? That’s a good question, and there are a few ways to answer it. For starters, I don’t think it MUST matter in the same way NFP always moves markets in the morning. That said, a big surprise in either direction on GDP can certainly have an effect. More importantly, we should ask if bond markets are even interested in any…(read more)
Via:: MBS Day Ahead: Is Today’s GDP Reading Important?
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