The US third quarter GDP data provided an early Christmas gift for inflation

Some analysts have indicated that although the GDP data for the third quarter is now old news, the downward revision of core inflation annualized quarterly rate from 2.3% to 2% still leans towards dovishness. This has stimulated bonds and subsequently stocks. It may also bring some downside risks to tomorrow's PCE inflation data, depending on the results of monthly breakdowns.

Meanwhile, the number of initial jobless claims has once again fallen below expectations, with initial claims remaining relatively stable at 205,000 people. With low inflation and a robust labor market, the current macro backdrop is optimistic.