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Friday, October 26

26th Oct - US Close: High GDP due to Defense

GDP came out, but most of bigger than expected growth came from aircraft purchases (volatile) and military spending (ahead of fiscal cliff, under budget review and the military's fiscal year ends in September), so the number was not as good as the headline would suggest. In the stock market language, the GDP growth was "low-quality". For acute reading needs, check my earlier posts, esp. the Best of The Week - I'll be back tomorrow with the usual Weekender posts, beginning with another Weekly Support. Have a good weekend - and if you're in Finland, remember to vote as your heart tells you.

Previously on MoreLiver’s:
26-Oct EU Open                

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Roundups and Commentary
Roundup: US Q3 GDP better than expected – Kiron Sarkar / The Big Picture
European Summary – ZH
  Europe Unch To End Worst Week In A Month
US Summary – ZH
  Draghi's Dike Defended As Market Ends Week Range-Bound

Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices
Economic Calendar – Forexpros

Chicago Fed: September Economic Conditions Improve SlightlyThe Capital Spectator

“Government spending was a big driver behind the better-than-expected 2.0% GDP growth rate, an anomaly economists don't expect to continue.”

GDP better thx to defense spending – The Big Picture
Q3 GDP Estimate Beats Expectations As Government "Consumption" Soars – ZH
Real GDP increased 2.0% annual rate in Q3 – Calculated Risk
US growth improved in Q3 – outcome of Q4 still very uncertain – Nordea
Comments on Q3 GDP and Investment – Calculated Risk
Visualizing GDP:The Consumer and Uncle Sam to the Rescue – dshort
Dont believe the GDP report! – Wonkblog / WP
Better faster than slower – Free exchange / The Economist
US Economic Growth Strengthened In Third Quarter – The Capital Spectator
Another Thing About That 2% GDP Growth Rate… – MarketBeat / WSJ
Economists React: GDP Growth ‘Slow, but Not Slowing’ – RealTime Economics / WSJ
GDP Print Doesn’t Change Anything, For Stocks or Economy – MarketBeat / WSJ
A Closer Look
GDP Data – The Big Picture
The fiscal cliff is already dragging down GDPWonkblog / WP

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