The Macro Themes That Matter, Part 3, Markets Edition

Before I get into the markets, let me point out two nice data points released this morning.

The data

The first is Q3 GDP for the US, which came in at 33.1% on an annualized basis and ahead of expectations for 31.0%. That's 7.4% growth in one quarter. While it doesn't make up for the contractions in Q1 and Q2, it does highlight the V-shaped recovery throug…