The Advance GDP number came in stronger than expected this morning.

There is an interesting mismatch between the GDP growth rate and the GDP Price index. 

I suspect that this will find some resolution in future revisions, perhaps price higher and growth lower.

But the seeds planted yesterday regarding a protracted period of higher interest rates released the volatility of the markets and provided a nice setup for the corrosive forces of unrestrained financialization.

Wash, rinse, repeat.

The Dollar rose sharply.

Gold and silver were hammered.

The major stock indices initially rallied much higher, but then reversed sharply, falling all afternoon and into the close.

Wash, rinse, repeat.

Willful pride brings a whirlwind of consequences.

Have a pleasant evening.

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