Durable Goods Orders crashed 5.1% MoM and turned back negative YoY and ex-transports continues to deteriorate YoY flashing if nothing else a recessionary environment is upon us (if not an actual recession). However, it is in the core – non-defense ex-aircraaft – segemnt that we see the real bloodbath as shipments plunged and new orders collapsed 7.5% YoY – the "worst since Lehman." Of course we still have bartenders and waitresses to maintain the US economy so this is just transitory weakness in the stock market's most-dependent segment of the economy.
Headline data turned back red YoY…
Ex-Transports remains in recessionary negative territory…
And finallyu the real carnage – outside of warmongery – capital goods orders are collapsing…at the fastest rate since Lehman
Of course – this is all nothing that a good rate hike won't fix, with all its confidence-inspiring sentiment.
via Zero Hedge http://ift.tt/1TpC7OB Tyler Durden