GDP Rev 2 (month after Rev 1)
The first of today’s two relevant economic reports was the 2nd revision to the 4th Quarter Gross Domestic Product (GDP) at 8:30 AM ET. It came in at a 2.2% annual rate of growth during the quarter that matched the first revision. Analysts were expecting to see an upward revision, indicating that the economy was actually a little stronger during the last three months of last year than previously thought. The softer reading is technically good news for bonds and mortgage rates, but since this data is quite aged at this point, its impact on today’s rates has actually been fairly minimal.