We are at Resistance Here...
Posted by Eric Skates on
Dual Mandate
2nd revision Q3 GDP comes in on target, with some internal weakness in consumption and prices paid. Fed looking for 2.0 PCE, we’re @ 1.3. So jobs “better”, inflation not. 12/16 will be interesting as the doves will certainly be hanging on to inflation as a reason not to hike. We are at resistance here. Touching last weeks post NFP low in yields. This is likely not enough to break through, especially in a short week. I like locking near term closings here. Anything left for November is a no brainer for sure. Even week 1 December.
A lot of data tomorrow, including the claims number which usually comes out on Thursday.
Hang in there... Check back for updates!
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