Today's U.S. reports Today's U.S. reports revealed upside surprises for the August retail sales and July business inventory data that lifted Q2 and Q3 GDP growth prospects, and that put a positive spin on the U.S. economic data as analysts approach next week's FOMC meeting. Analysts now assume a 3.0% (was 2.8%) GDP growth clip in Q3 that follows a boost in Q2 GDP growth to 4.4% from 4.2%. Analysts also saw an expectations-led bounce in Michigan sentiment to an 84.6 one-year high that defied headwinds from the deteriorating geopolitical backdrop. The trade price report for August revealed big headline price declines led by petroleum and food, alongside a flat core price path.
Euro$ interest rate options: a boost to bearish put trade Euro$ interest rate options: a boost to bearish put trade has lifted the aforementioned purchase of Green November 73/76 put spreads vs sale of Short November 85/87 put spreads from the 30k originally reported to some 80k now over the course of the session. Euro$ are still as much as 9-ticks lower further out the curve.