GDP - Get ready for some more bull!

[yallerdawg]

MarketWatch by Mark Decambre

Stock-market investors can’t remember the last time a GDP report held such import

Consensus estimates from economists polled by MarketWatch indicate a rate of expansion of about 4.2%. Although the Federal Reserve’s GDPNow tracker was indicating a Q2 read of 3.8%, as of Thursday.

Fox Business reports that a strong number may be used as an excuse for the Trump administration to take a victory lap, claiming that late-2017 corporate tax cuts and a number of other stimulative measures enacted over the past several months are bearing fruit.

BUT:

Others note that at least some of the growth can be attributed to a rush to get ahead of the Trump administration’s tariff threats, which have had an outsize impact on the soybean market, as David Rosenberg points out:

Link to tweet

AND a little perspective (note results of last Republican administration):




So - brace yourself for the bullshit!