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Q4 GDP Growth Grips a "1-Handle"
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Q4 GDP Growth Grips a "1-Handle"

Even though the economy is expanding, it is running below trend, which is disinflationary

David Rosenberg's avatar
David Rosenberg
Dec 12, 2023
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Early Morning with Dave
Q4 GDP Growth Grips a "1-Handle"
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Highlights

  • U.S. households are significantly under-invested in bonds… 

  • … at a time when inflation expectations are retreating (bullish!) 

  • Tobin’s Q remains elevated – yet another example of unattractive equity market valuations 

  • Gilts rally on U.K. wage growth decelerating the most in nearly two years 

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