Consumer Durables News

A sigh of relief in markets ahead of durable goods and consumer confidence

Cleveland Fed Pres. James Bullard

Durable goods orders kick off the US economic calendar at the bottom of the hour. Watch for the line on non-defense capital goods orders ex air. The consensus is +0.2% and it’s an important input into GDP with the Atlanta Fed tracker holding just above zero.

At 9 am ET, the focus shifts to housing with US home price reports from Cash-Shiller and from the FHFA.

At 10 am ET, the economic calendar picks up again with US consumer confidence, new home sales and the Richmond Fed. All are important indicators but consumer confidence will take the spot light and is expected at 104.5 from 103.2.

Finally, there’s a 5-year note auction at 1 pm ET. Yesterday’s 2s sale had the largest tail since Feb 2020 and the bond market has been blowing up. There’s some calm today but 3 of the past 4 sales of 5s have tailed.

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