Morgan Stanley slashed their estimate to 1.5% from 1.9% after what they called "a very weak report." RBS Securities cut their estimates to 1.7% from 2% ...
And from Catherine Rampell at Economix: G.D.P. Forecast for First Quarter Slides
Today, after an especially weak report on February’s trade deficit, the [Macroeconomic Advisers'] economists lowered their first quarter G.D.P. estimate to a sorry 1.5 percent annualized.
So Macroeconomic Advisers' forecast has gone from a "paltry" 2.3% to a "sorry" 1.5%! (Source: Calculated Risk)
Maybe this is the reason bonds are much stronger than what everybody expected.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked second best gold timer by Timer Digest
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