GDP Growth Beating Expectations
China’s apparent economic worries and the abrupt end to the Hanoi summit, alongside escalating geopolitical risks have added to the growing array of investors’ concerns. The list also includes the lingering trade war, concerns over global growth and the direction of monetary policy. All this is cooling investor sentiment even though, according the latest GDP report, the U.S. economy is doing pretty well. U.S. GDP growth is doing better than expected while inflation remains muted, adding little urgency for the Fed to resume interest rate hikes. The yield on the 10-year Treasury moved up during the week to just north of 2.70.