Weekly Economic Perspectives - US GDP: Not A Slowdown, But A Shutdown
Last Week's Highlights
The Economy Historic US GDP decline is not a surprise. Canadian GDP starts to recover. UK housing activity is reviving. Historic eurozone GDP decline is also not surprising. Japan’s labor market surprises positively. Australian inflation declines less than expected.
The Market Most equity markets retreat but the US ekes out a gain. Bond yields narrow on sobering macro data. The dollar plunges. Oil is little changed, gold jumps.
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