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Tepid Durable Goods Orders Don’t Move The Dial

US DATA
  • Core durable goods orders were on balance as expected, stronger in February at 0.2% (cons -0.2%) after a downward revised 0.3% in Jan (initial 0.8%).
  • The trend for the (nominal) series continues to flatline at just 0.3% annualized on a 3M/3M basis, whilst industrial production volumes slide -6.5% annualized on the same basis. The ISM manufacturing index continues to point to
  • A broadly in line print and market focus firmly elsewhere on banking issues sees little reaction.

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