Treasurys gain after big durable goods miss


In addition to the big headline miss, core durable goods orders (excludes transportation) fell 0.6% vs. an expected gain of 0.5%, and a gain of 0.1% in June. Shipments fell 0.8% after a 0.1% fall in June. Unfilled orders continue to rise, up 0.4% to $1.03T - the highest in the history of the data.

The news is good for a nice pop in Treasury prices, TLT +0.25%, and the 10-year yield falls to 2.79%.

Full report.

Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, DSTJ, DSXJ, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.

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Comments (3)
  • quinnman
    , contributor
    Comments (138) | Send Message
     
    Man, this QE is amazing. The economy is booming
    26 Aug 2013, 11:11 AM Reply Like
  • mobyss
    , contributor
    Comments (2641) | Send Message
     
    Not only that, but the market appears to be up today BECAUSE the durable goods miss. After all, the worse things are, the more QE from the Fed! Maybe if we're really lucky the UE rate will go back up to 10% and the next durable goods order will miss by 50%!
    26 Aug 2013, 11:44 AM Reply Like
  • Nolesince87
    , contributor
    Comments (259) | Send Message
     
    As we have seen the boom in stocks has been progressively smaller with each subsequent round of QE. The market has already acknowledged QE is a futile tool without money velocity.
    26 Aug 2013, 01:27 PM Reply Like
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