Stream of data out of the U.S.
Durable Goods orders were flat below consensus est of 1.10%
Durable Goods Ex-transport rose 0.60%
Q4 Advance GDP Est showed growth at 3.30%
However, the GDP deflator came in at 1.50% below consensus of 2.30%
Initial Jobless Claims rose 214K above consensus of 200K, higher than exp but the Labor Market is holding up well.
USD is softening post the release and US yields on 2Y are down from day's high of 4.415% to now 4.36%. No significant repricing seen on Fed Fund Futures.
The data out of U.S clearly points to a SOFT LANDING narrative coming to fruition.
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