Interest Rate Roundup

Wednesday, November 01, 2006

Pending Home Sales slump

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.


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