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The Commerce Department reported US Q2 real GDP grew 1.5% annualized in the advance estimate released July 30, down 0.6 points from Q1's 2.1% and below the 2.1% consensus, dragged by a swing to negative federal spending and narrower gains in investment and exports. The downside miss is rate-cut supportive and should pressure UST yields and the dollar lower, but it also cuts both ways for risk assets since softer demand weighs on earnings expectations for equities while easier policy expectations lift rate-sensitive assets like BTC and NASDAQ. Watch the second GDP estimate and upcoming payrolls data to confirm whether this is a soft-landing slowdown or the start of a sharper growth downshift that would flip the read from 'cut-friendly' to 'risk-negative'.
As a Macro signal, watch whether it changes price action, volatility, or flows around GSPC, KRW=X, BTC.
Original Source: 연합인포맥스
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