Worldwide long-term yields lower in the last 48 hours and with the UST 10yr at 1.50%, I’d be a seller of long-term bonds into this GDP report (hoping to buy the 10-yr back again around 1.65-1.70%); plenty of people will get sucked into this GDP print if it’s as big as we think it’s going to look (our estimates are +4.8% q/q SAAR – that’s +2.3% y/y – then we’re straight back down to 0.8% for Q3).
Editor's Note: The snippet above is from a note Hedgeye CEO Keith McCullough wrote for subscribers this morning. Click here to learn more.
