US GDP beat expectations ‘proving’ that government data shows the recovery meme is on track (as long as it doesn’t snow ever again). The market’s reaction… intriguing – stocks shrugged even as a USDJPY pump tried to get things going; gold and silver moved modestly higher; and Treasury yields… fell notably at the long end. 30Y is now trading with a 3.06% handle and 5s30s is back below 145bps…!
Bonds are rallying on the GDP beat…
The yield curve continues to collapse…
And stocks are shrugging..
Chjarts: Bloomberg
via Zero Hedge http://ift.tt/1vpSqzQ Tyler Durden