Headlines discussed at LNWM’s Monday morning briefing:
— 10-year and 30-year Treasury yields rose sharply in Feb. — to 1.46% and 2.19%, respectively — on fears that stimulus and post-Covid recovery will trigger inflation.
— US weekly jobless claims dropped sharply to 730,000 but challenges remain, with 19 million Americans receiving unemployment benefits.
— Orders for US durable goods posted the biggest gain in 6 months in Jan, up 3.4% vs. 1% expected.
— Sales of newly constructed US homes rose 4.3% in Jan. (2x the expected increase) on strong demand due to so few existing homes for sale.
— China’s manufacturing sector slowed for the 3rd month in a row in Feb., falling to just above 50 on key indices (below 50 indicates contraction).
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