Markets have settled down somewhat after yesterday’s volatility. The news of rising case counts in the United Kingdom and that nation’s restrictive response seem to have lessened in significance as a $900B domestic covid relief bill comes to fruition. Equity indices are little changed so far and Treasury bond prices seem to have settled down. The Ten-Year rests at 93 basis points with the Long Bond perched at 1.67%.
Earlier today, the Bureau of Economic Analysis released its third and final GDP report for Q3. The previously reported 33.1% growth came in a little higher at 33.4% as the 40.6% growth in Personal Consumption was revised to 41%. The 3.5% quarterly rise in the core PCE Index was lowered slightly to 3.4%. All old news and not the source of any market reaction.
Later today, the Conference Board will announce Consumer Confidence for this month and the National Association of Realtors will report Existing Home Sales for November. The Richmond Fed will also be publishing its December report for Manufacturing.