Atlanta Fed GDPNow At +25.6% QoQ As Citi US Economic Surprise Index Soars (Real US 10-Year Treasury Yield At -1.04%)

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by confoundedinterest17

I wonder if Raphael Bostic, President of the Federal Reserve of Atlanta, will mention the good news for the US economy in his speech today.

Yes, the Atlanta Fed’s GDPNow real-time GDP tracker has surged to 25.6% QoQ. This follows Citi’s Economic Surprise Index that has been rising since May.

Global sovereign yields are down slightly ahead of “Jackalope Jay” Powell’s virtual Jackson Hole presser on Fed activities.

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In anticipation of Powell’s speech, the US Treasury Actives curve (green) has steepened slightly over the past week, but the US Dollar Swaps curve (blue) has steepened even more.

The S&P 500 e-mini futures contract is down slightly ahead of Powell’s talk.

Some form of inflation targeting, particularly since there is virtually no inflation and the real 10-year Treasury yield is -1.04%.

How low can The Fed go?


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