revised U.S. GDP

Comment on Revised U.S. GDP

March 28, 2019

U.S. quarterly GDP growth in the final quarter of 2018 got revised downward by 0.4 percentage points to 2.2% annualized. Despite the positive spin from government officials, that’s below the average 2.7% per annum pace of the whole Trump presidency thus far. Moreover, personal consumption, which comprises about 70% of GDP, contributed disproportionately by accounting […] More

Less Fear about Italy, More Fear Over Trade

May 30, 2018

Highly successful Italian 10-year and 5-year sovereign debt auctions following growing incohesion among anti-euro political elements in that country alleviated one source of market strains. 10-year government bond yields fell by 24 basis points in Italy, 21 bps in Greece, 9 bps in Portugal and 4 bps in Spain. Yields, by contrast, rose 11 bps […] More