The pending home sales index
for September showed a 1.1% decline from August, slightly worse than the 0.9% decline forecast. The YOY decline comes to 13.6%. In other economic news, the ISM manufacturing index for October came in at 51.2, compared with 52.9 a month earlier and a forecast of 53. Construction spending dropped 0.3% MOM for September. All in all, weak economic data across the board, and long bond prices are testing their old high.