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Thursday, March 28, 2024

GDP Sparks Gold Dump, Stock Pump

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Bond yields jumped over 4bps on the better than expected GDP print. Stocks popped along with the USD index. Gold was flip-flopped all over the place – an initial dump was followed by a rip back over $1300 only to be sold back down to $1295 now… Equity exuberance is fading back a little now as machines ‘read’ the anti-goldilocks ADP print and inventory-stuffed Fed-hawk-supporting GDP print as indicative of a punch bowl that just got dragged away a little more…

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