Yellen will do her best at spinning the Q2 GDP report on Thursday

The Treasury just announced that Janet Yellen will be hosting a press conference on the economy on Thursday. That should be seen as a giveaway on soft Q2 GDP.

The consensus is still at +0.5% but it’s been sliding. The Fed would have likely gotten a preview of the number today and perhaps so did the Treasury.

Whether or not it’s negative, the commentary from corporates lately certainly indicates a slowing economy.