Friday, July 24, 2020

PMI: manu: 51.3; svc: 49.6; comp: 50

it is becoming normal. housing: 4.7Months supply; 13.8% growth in sales, 776K annual; all at high levels teenies at 0.58; goiing down since last FOMC when they were at 0.95
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fed left the rates unchanged

2 yr rates drop slightly to catch up further explained by the chief that market has moved ahead raising rates and not waiting for fed action...