US Treasury Yields (left), US Equities
Inflation worriers and treasury bears take note: Bond yields are falling again. The economy is not as strong as it looks.
The headline GDP was 3.5% but that number looks much stronger than it really is. It was based on a huge inventory adjustment that contributed 2.07 percentage points to the headline number itself. Government spending was also on the high side, contributing 0.56 percentage points.
Stocks Resume Slide
Major US Stock Indexes