Goldmans have raised their GDP forecast for the second half of 2009 to 3% annualised from 1%. This is helping stocks and further deflating Bond futures which have given back all of their Non-Manufacturing ISM inspired gains.
Eur/usd has now extended its 2009 highs by a couple of pips to 1.4447 before retreating back down to 1.4425/30. S&P futures are now back above 1000 and bond yields are 10 basis points higher in the 10 year at 3.75. Its like the ISM never happened.
