US: Atlanta Fed GDPNow Estimate Recedes
The Atlanta Federal Reserve's latest GDPNow model estimate for real GDP growth in the first quarter of 2023 recedes to 2.5% from the prior read at 3.2%. The Atlanta Fed explains after recent data from Census and Economic Analysis Bureaus, the "nowcasts of first-quarter real personal consumption expenditures growth, first-quarter real gross private domestic investment growth, and first-quarter real government spending growth decreased from 5.0 percent, -7.0 percent, and 1.8 percent, respectively, to 4.6 percent, -7.3 percent, and 1.7 percent."
Atlanta Federal Reserve
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
STIR: BLOCKs, More Sep'23, Dec'23 SOFR Put Structures
Block, +20,000 SFRU3 93.87/94.68 put spds, 28.5 ref 94.555
Block, +7,000 SFRZ3 93.75/94.25/95.00 broken put flys, 18.0 ref 94.685
Block, total +15,000 SFRZ3 95.00/95.25 put spds, 17.5
US 10YR FUTURE TECHS: (M3) Trend Needle Points South
- RES 4: 113-19+ 50-day EMA
- RES 3: 113-03 High Feb 15
- RES 2: 112-27+ 20-day EMA
- RES 1: 112-03 High Feb 24
- PRICE: 111-01 @ 16:10 GMT Mar 1
- SUP 1: 110-30 Low Mar 1
- SUP 2: 110-06 3.00 proj of the Jan 19 - Jan 30 - Feb 2 price swing
- SUP 3: 110-03+ Lower 2.0% Bollinger Band
- SUP 4: 108-26+ Low Oct 21 (cont)
Downside pressure on Treasury futures accelerated Wednesday, keeping prices within the clear downtrend posted across February. Recent weakness maintains the current bearish sequence of lower lows and lower highs. Potential is seen for a move towards the 111.00 handle next, a Fibonacci projection. Moving average studies are in a bear mode position, highlighting current market sentiment. Initial resistance is seen at 112-03, the Feb 24 high.
US TSY FUTURES: BLOCK, Jun'23 10Y-Ultra, 30Y-Ultra Bonds
Both legs through post-time bid at 1107:50ET, but trading desks say appears to be a steepener:
- 5,237 UXYM3 116-11, through 116-12 post-time bid
- 2,087 WNM3 133-28, through 133-30 post-time bid
