A friend sent this to me, thinking I would understand it The language looks daunting to me – but I’m sure it’s saying something important :shock:
[quote]The US reported an amazing slate of economic news last night. Each report was better than the market had expected.
Initial jobless claims fell 3k to 388k, while the market had been expecting a deterioration back to 400k.
The first look at Q2 GDP came in at 2.4% compared with expectations of a 1.5%.
The Chicago PMI for July, among the first looks at the start of Q3, came in at a strong 55.9, up from 52.5 in June, easily outstripping expectations for a more modest rise to 53.6.
The dollar was generally bid before the data and extended its gains in response. The euro fell to $1.1225 and the dollar rose to JPY120.60. The dollar-bloc remained under pressure.
US bonds reversed their earlier gains, with the 30-year bond futures posting an outside down day. Bonds and notes fell to new lows for the move than began in mid-June. Yields at the short-end of the curve also rose.[/quote]
Anyone want to take a crack at rewriting this in terms most of us can relate to?
I’m guess this is good news overall