- GDP Surprise: Q2 final at 3.8% vs 3.3% expected, led by services and durable goods.
- Fed Outlook: October rate-cut probability slashed on strong data.
- Sector Leaders: Finance, manufacturing, information, and mining drive growth.
- Consumer Signal: Households shift toward durables and appliances, boosting confidence.
- Dollar Strength: Robust U.S. data underpins USD across majors.
- Fiscal Flows: TGA at $690B, heading toward $850B before spillovers emerge.
- Growth Path: Q3 consensus moderates to 1.5–3.3% as momentum eases.
