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ECON: Durable Goods Much Stronger Than Expected
Posted to: Micro News
Monday, January 28, 2013 8:39 AM
- Headline Durable Goods Orders +4.6 vs +1.8 Consensus
- Excluding Transportation +1.3 vs +0.7 Consensus
- Market reaction: bond markets didn't wait long before giving up. 10r yields hit their highest levels since April 26th and MBS fell a quick 4 ticks from 103-10 to 103-06, bringing the total losses to 9 ticks on the day.
New orders for manufactured durable goods in
December increased $10.0 billion or 4.6 percent to
$230.7 billion, the U.S. Census Bureau announced
today. This increase, up seven of the last eight months,
followed a 0.7 percent November increase. Excluding
transportation, new orders increased 1.3 percent.
Excluding defense, new orders increased 1.2 percent.
Transportation equipment, up following two
consecutive monthly decreases, had the largest increase,
$8.1 billion or 11.9 percent to $75.9 billion.
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