Rates Down Again, Reports Show Weak Economy
28 February 2008
Rates were down over half a point today on more weak economic reports.
The 4th Quarter GDP came in at a growth rate annualized of .6%, which was weaker than analysts had forecasted.
Unemployment claims came in higher than expected for last week.
The bond market reacted favorably to both reports. It was unaffected by Bernanke’s testimony today, with no new comments of note emerging.
Stay tuned for two reports on the health of the Consumer tomorrow: University of Michigan’s Index of Consumer Sentiment for February and the January Personal Income and Outlays Report.
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