As we noted earlier, the Atlanta Fed waited until the market close to reveal its most dire GDP estimate yet: a paltry 0.6%, matching the 0.6% recorded during the "harsh winter" first quarter: one could be forgiven to think that during today's already chaotic selloff, the last thing traders and algos needed was news that US economic growth had ground to a virtual halt.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Last week, I started the weekly reading list by stating:
“This week has certainly been interesting with the Dow Jones Industrial Average having the worst start to a year…well…ever.”
This week was not much difference as the markets continued their slide into the “worst-start-of-the-year-everer.”
With less than half an hour until the close, we asked the Atlanta Fed - the most accurate predictor of GDP - which was scheduled to post an update of its Q4 GDP NowCast following today's ugly economic data, if it was was planning on releasing its latest Q4 GDP estimate before or after the close, something it usually does just before noon.
Dear @AtlantaFed will you be updating your Q4 GDP NowCast today as your schedule says you will? https://t.co/YrUvkxf5Nl
— zerohedge (@zerohedge) January 15, 2016
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Submitted by Jim Quinn via The Burning Platform blog,