We started the week at 2.9% and finish at 2.0%.
I would be worried about that if we were anywhere close to Q3 GDP numbers but the prelim estimate is still months away and vol early in the cycle is normal.
“After this morning’s housing starts report from the US Census Bureau,
the nowcast of third-quarter real gross private domestic investment
growth decreased from 0.0 percent to -2.4 percent,” the Atlanta Fed reported.
Also note that housing starts were likely depressed by Hurricane Beryl.
