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  • Wall Street Breakfast: Must-Know News [View article]
    The first Q2 GDP estimate came in at -1.0%. This was better than the expected -1.5%. However, some people had apparently been hoping for an even better result. Obama pre-announcing a negative result was a big clue that expectations were likely too high.

    The Q1 GDP revision to -6.4% was a huge disappointment to the markets. The markets had been hoping for an upward revision. This means the overall result was worse than the market expectations. This result also makes the likelihood of a downward revision of Q2 GDP more likely. This is not good news for the markets either.
    Jul 31 09:13 am |Rating: +2 0 |Link to Comment
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