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Unusual Whales Pod #11: 2.6% GDP, the American economy at large, and risks in the Treasury market

Unusual Whales

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Is the ECB Going to Continue to Move Forward?

The ECB raised rates by 75 basis points to benchmark 1.5%. The terminal rate is still projected to be 2% but if there is a global coordinated action on the pivot front I think the ECB missed the memo because they not only raised rates as expected but they're also moving ahead with QT and tweaking the TLTRO which has got European banks not quite as happy on that front. In some ways it does signal what we can expect from the Fed that they're going to maintain their policy course as well.

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