GDP was expected to come in at 2.7% for the 3rd quarter. But it came in at 2.0%. Under “normal” pandemic circumstances this would be bullish for stocks as it implies the recovery is lagging behind expected targets and would thus call for longer easy policy. But 2% GDP, while below expectations, is almost definitely not bad enough to change the Fed’s Stimulus Tapering announcement to be made on November 3rd.
