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  • Calendar event / 38 minutes ago
    Med 10-city Index, M/M
    Med 10-city Index, Y/Y
    Med 20-city Index, M/M
    Med 20-city Index, Y/Y
    Med National Y/Y
    Med National M/M
  • Squawk / 50 minutes ago
    Head of Macro Strategy / Saxo Bank
    Solid US durable goods orders for April:

    A change in durable goods orders of -0.5% m/m for April does not sound very good, but beneath the headline - which was in line with expectations while March was revised to 5.1% from 4% - the numbers are better than expected. Durable goods orders outside the volatile transportation sector rose 0.5% vs. 0.3% expected in April while March was revised from -0.2% to 0.6%.

    Capital goods orders - a proxy for future investment spending in the GDP accounts - rose 1% vs. 0.3% expected while capital goods shipments - a proxy for present investment spending - rose 0.8% vs. 0.3% expected. Both were revised higher for March to 1.5% and 1% from -0.5% and -0.4% respectively.

    Despite the large upward revisions to March and generally better-than-expected figures for April, durable goods orders remain weak. Orders are down 6.8% in the last six months compared to the previous six, and flat 3m/3m. And it is the same when you exclude transportation at -2.8% ...
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    Mads Koefoed Mads Koefoed
    ... -1.5% respectively.

    Therefore the outlook for present quarter GDP growth remains muted based on available monthly indicators and we need to see a pick-up in data in...
    Mads Koefoed Mads Koefoed
    US house prices rose 1% in March according to the Case-Shiller 20-city composite index. This implies an (unchanged) annual rate of growth in house prices of 5%...