Another Big Wrinkle Today: An Ugly GDP Report

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Photo: Flickr Nic McPhee

Just in case today wasn’t going to be hectic enough, what with everyone sorting out where we are on the debt ceiling, there’s going to be another interesting wrinkle: Advance GDP for Q2.The official estimate is still at 1.9%, but there’s definitely a louder and louder “whisper” number that’s way lower than that, perhaps even lower than 1%?

When in does come in bad, expect to hear it invoked by politicians all around, eager to score points in the debt ceiling fight.

And even on its own it will be watched closely by markets.

That’s out at 8:30.

Should be a wild day.

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