BESSENT: THINK WE WILL GET STRONG GDP NUMBER FOR THIRD QUARTER

Treasury Secretary Scott Bessent said he expects a strong U.S. GDP reading for the third quarter, a comment that signals official confidence in the economy's momentum heading into the data release. Expectations of stronger growth typically feed into the rate channel: firmer activity data can push up Treasury yields by lifting the market's view of the policy path and reducing odds of near-term Federal Reserve easing, which in turn supports the dollar against currencies with weaker growth outlooks. Equities with high duration and rate sensitivity, such as long-dated growth stocks and housing-linked names, tend to be most exposed to a repricing of yields, while cyclical sectors like industrials and consumer discretionary often benefit from the growth read-through. The next concrete catalyst is the Bureau of Economic Analysis advance estimate of third-quarter GDP, where traders will compare the headline figure and consumer spending components against Bessent's signal and consensus forecasts.

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