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Weekly Economic Perspectives - US GDP: Not A Slowdown, But A Shutdown

Senior Economist
Intermediate Quant Analyst

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.