Not only was the US inflation report less than appetizing (1.0% YoY for the GDP Deflator), but now the Atlanta Fed GDPNow forecast models indicates a Q1 GDP print of … 0.6%.
Here is the chart of the GDP deflator at 1.0% YoY.
What do we get? Tumbling 10 year Treasury yields.
WIRP (the implied probability of a Fed rate hike in April)? 6%.
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