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Sunday, May 28, 2023

PM Correction, Rate Increase Ahead, No Reform w/o Crash & Burn

Consumer Sentiment: 59.2, expected 58.0, previous 57.7; contractionary. Q1 GDP (2nd estimate): +0.3% q/q (+1.3% annualized), up from +0.275% (1st estimate); contractionary. Durable Goods, New Orders (DGORDER): +1.1% m/m, expected -1.1% m/m, prior +3.2%; expansionary. Fed Balance Sheet (WALCL) -20B w/w; deflationary. This week both the 1 and 10-year rates moved higher, while the 1-month […]

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