- The first look at Q2 GDP prints at 2.6%. Q1 revised lower to 1.2%. GDP averaged 1.9% for first-half.
- Is the Q2 2.6% GDP print a sign the economy is speeding up or is it a continuation of a recent trend?
- Libor is set to disappear at the end of 2021. What might that mean for your fixed-to-float preferreds?
- AT&T issues $22 billion of new corporate bonds. Supply is swallowed easily by the markets.
- Does the oversubscription of new AT&T debt spell the end of the idea of “Great Rotation?”
2017 Mid-year Outlook:
Fed Funds: 1.25%-1.50%
2-year UST Note Yield: 1.70%
10-year UST Note Yield: 2.40%
CPI (2017 average): 2.0%
Core CPI (2017 Average): 2.0%
PCE (2017 Average): 1.6%
Core PCE (2017 Average): 1.6%
GDP (2017 Average): 2.2%
WTI Crude Oil: $40-$55 (range)
Fed Funds Rate: 1.25% – 1.50% (year-end)
2-year UST Note Yield: 2.00% (year-end)
10-year UST Note Yield: 2.70% (year-end)
CPI (2017 average): 2.0%
Core CPI (2017 Average): 2.2%
PCE (2017 Average): 1.8%
Core PCE (2017 Average): 2.0%
GDP (2017 Average): 2.6%
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