Whilst the mid-terms came out as expected, as far as GDP revision was concerned I was well off the mark. Overnight second estimates were revised upwards to 3.9%. Why can't I still believe this? Maybe the soft housing data overnight and the fact that, again overnight, consumer confidence came in lower than the low that was expected. (88.7---96 expected).
We'll see how all this plays out at this week's Thanksgiving sales.
