Bonds Down on Stock Rally, Despite Weak Economic News
28 November 2007
New orders for large ticket items fell .4% last month, worse than expected. This was the third monthly decline consecutively in orders. This should be good news for bonds, but the stock market rally today prevented improvement in bonds.
October Existing Home Sales fell more than expected last month, which should also be good news for bonds.
Tomorrow we’ll get the 3rd Q GDP data, which is calling for 4.9% reading, showing stronger than expected economic growths. Current rates are reflective of an expected revision.
No comments yet