GDP Pulls Up Lame, Debt Ceiling Agreement Elusive, Bond Market Loves It |
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July 29, 2011 |
July 2011 Bond Updates
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U.S. economic growth comes up light in the second quarter with GDP numbers coming in well below forecasts. Combined with the continued impasse in Washington over a solution to the debt issues that confront the country, the weaker than expected GDP report is pushing U.S. stocks lower and giving a boost to bonds. The yield on the 10-year U.S. Treasury note dropped from a close of 2.95% to 2.85% after the release of the data. Not much default fear there.
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View more at: http://blogs.forbes.com/johndobosz/2011/07/29/gdp-comes-up-short-and-stocks-get-smacked/
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