Several risk factors that could end the bond market’s party, but for the moment US fixed-income markets are having a good year so far, based on prices through Thursday’s close (Jan. 30).
Daily Archives: January 31, 2025
Macro Briefing: 31 January 2025
US fourth-quarter GDP increased less than expected. Output rose 2.3% (annualized), marking a slowdown from Q3’s 3.1%. Consumer spending accelerated in Q4, rising 4.2%, the fastest pace in nearly two years. “Holding back growth was a decline in business investment, flat reading in net exports, and sharp decline in inventories,” advises Nationwide chief economist Kathy Bostjancic. “The drawdown in inventories, especially at the wholesale level indicates that retailers also scurried to stock up before possible tariffs. This could continue into early 2025.”
