Daily Archives: Jul 28, 2020 at 07:38 am EDT

This Week’s US Q2 GDP Report Will Be Ugly

Brace yourself. Although no one will be surprised by the government’s initial second-quarter economic release that’s due later this week, the numbers are widely expected to be harsh. Hope springs eternal for Q3 and beyond, but first the crowd has to digest and process the heavy loss that’s in store for Thursday, July 30, when the Bureau of Economic Analysis publishes its “advance” GDP estimate.

Continue reading

Macro Briefing | 28 July 2020

Republicans propose new aid package that cuts jobless benefits: Reuters
Major test of experimental COVID-19 vaccine started on Monday: AP
Democrats want ban on federal agents in US cities: BBC
World economic rebound may be stumbling as virus rebounds: Bloomberg
Economic worries drive gold price to record high: CNN
Two GOP senators announce opposition to Shelton’s nomination to Fed: WSJ
Trump national security adviser tests positive for coronavirus: Reuters
Former Malaysian prime minister found guilty in 1MDB case: WSJ
Dallas Fed: mfg sector’s rebound continued in July after record fall in spring: FWBP
US durable goods orders continued to rebound in June after steep losses: MW