The economic data from last week was strong.
Goldman Sachs sees a "tantalizing prospect" that the US economy may already be over the hump and that growth will accelerate this year, proving wrong the naysayers who said that the end of the payroll tax holiday and the sequestration would be a blow to the recovery.
We thought this was interesting, because back in early February, BofA strategist for FX and rates David Woo said that the US economy was about to see the "moment of truth." At the time he reckoned that the data
over the coming weeks would show whether the US recovery would survive or not.
Goldman Sachs sees a "tantalizing prospect" that the US economy may already be over the hump and that growth will accelerate this year, proving wrong the naysayers who said that the end of the payroll tax holiday and the sequestration would be a blow to the recovery.
We thought this was interesting, because back in early February, BofA strategist for FX and rates David Woo said that the US economy was about to see the "moment of truth." At the time he reckoned that the data
over the coming weeks would show whether the US recovery would survive or not.
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