http://MikesDailyMarketReport.com: Durable Goods Orders dropped by 2% in November, which was heavily affected by lack of Airline and Defense Goods being purchased. When you remove autos, then it rose by 0.6%. New Home Sales were revised lower from 733k annualized units to 710k in October. In November it went to 719k, which it rose after the revision, but in reality, it dropped before the revision. If you look further than the numbers, then you will know that New Home Sales are Up 17% YoY, which is what we really should be reviewing. Stocks are in Positive Territory this morning on news that the CEO of Boeing resigned and that reports out of China indicate they will be either removing or lowering Tariffs on frozen pork, some high tech items and pharmaceuticals on January 1st. MBS are currently off it's highs this morning, and currently Down 6bps. Yields have pretty much plateaued at 1.92%.
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