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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (11003)8/25/2004 10:27:31 AM
From: mishedlo  Read Replies (1) of 116555
 
Treasurys extend gain after data show home sales drop By Rachel Koning
CHICAGO (CBS.MW) -- Treasurys extended gains after a report showed a decline in new-home buying last month. The benchmark 10-year Treasury note was up 8/32 at 100 1/32, yielding 4.24 percent vs. 4.27 percent at the previous close. Sales of new homes in the United States fell 6.4 percent in July to a seasonally adjusted annualized rate of 1.13 million. There was also a large downward revision to June sales. The bond market was already firmer following a report that showed a July gain in durables goods orders was driven almost exclusively by gains in volatile aircraft orders.
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I was wondering why treasuries were so firm on that Durable Goods Data.
Now we know.

Mish
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