The Spectacle Blog

Re: Economic Numbers

By on 4.28.06 | 7:04AM

I'd say it's less than 50/50 that good GDP numbers cause a market selloff today, Prowler. Fed Chief Bernanke said before Congress yesterday that the OMC was unlikely to raise interest rates at their next meeting, and might even be done with that for a while. I don't think Bernanke will be surprised by today's GDP numbers. According to this morning's IBD, "Futures markets adjusted their rate-hike projections on his comments. The chances of a quarter-point June hike fell to 34% from 66% on Wednesday. The market already has priced in a 16th straight hike, to 5%, for the Fed's May meeting."

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