According to the Atlanta Fed’s GDPNow tracker, the forecast for Q1 2016 GDP has fallen to 1.4%.
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And now we have a disappointing durable goods order report (ex-transportation) which has now declined for 13 straight months.
After these two charming nuggets of economic information, the WIRP (implied probability of a Fed rate hike) fell back to 8% for the April 27th meeting.
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