● US GDP ACCELERATES TO 3.4% AS INFLATION PERSISTS

The US economy grew at a 3.4% annualized pace in the third quarter, up from 2.2% in the second, the Bureau of Economic Analysis reported Thursday. Core PCE inflation, the Fed's preferred gauge, held at 3.1% year-over-year in September, still running well above the 2% target. Faster growth paired with inflation that will not cool complicates the case for further rate cuts, keeping pressure on long-dated bonds like $TLT.