One of those days where better means bad

Headline durables didn't fall as much as expected. Usually that's good news except when it means that bad news is confirmed

The eagerly watched investment part of the report came out as expected and again, confirmed a drop

The full rundown is thus;

Durable goods breakdown

This report drives me nuts because just when you think it's going to start trending nicely it's hits you with a stinker

Last month was particularly strong and a lot of that has been reversed today. That's left thing in limbo slightly as we don't know whether this means this report is a one off or whether last month was. For the Fed trade there's no clear signals and the buck