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Seven-month high for Phila Fed Index

  • Warming up along with the weather, the Philadelphia Fed Index jumps to a 7-month high of 16.6 from 9.0 previously. New Orders rose to 14.8 from 5.7, Shipments to 22.7 from 5.7. Delivery Times dive to -14.3 from -2.7, meaning times got far shorter - typically a sign of economic weakness, but this time maybe just melting snow?
  • One weak sign from the report: The six-month outlook slumps to 26.6 from 35.4.
  • Full report
  • Treasury prices move to session lows, and the 10-year Treasury yield picks up two basis points to 2.65%. TLT -0.3%
  • ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, ZROZ, SBND, TLH, DLBS, VGLT, UBT, TLO, LBND, TENZ, TYBS, DLBL
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