Remember that tepid Q1 GDP reading of 1.3%? Never mind. The Commerce Department has decided in its third estimate that the actual growth was 2.0%. This massive revision, regardless of the cause, certainly won’t do much to encourage another Fed pause or reversal. Neither will the lower than expected initial claims or the 4.1% GDP deflator.

Futures could have trouble holding the 10-day moving average again today.

continued for members…

Currencies continue to favor the USD.

And, CL and RB continue to struggle.

Not surprisingly, the GDP revision and better than expected job numbers have boosted the 10Y.But, the 2Y rose even more, putting the 2s10s at -104 bps – very close to the -107 lows of Mar 8 which was the lowest since 1981.

continuing…