UST - GDP Beats But The Market Remains Skeptical
It's old news by now, but Thursday's Q4/18 GDP report came in a bit stronger than expected (+2.6% vs +2.2%), and growth for the calendar year 2018 (3.1%) was the strongest in more than a decade, and stronger than the 2.3% average annual growth rate of the current economic expansion. However, the market is acting like it thinks this may be the high-water mark for the foreseeable future. This is a show-me market, and so far the economic improvement we've seen under Trump's ministrations is less than spectacular, and certainly less than supply-siders (like me)