“Durable Goods Orders Rise 4%,” blared the headlines this morning. There was just one minor problem with that. It was not true. It represented the seasonally adjusted, massaged, and manipulated number, which bears no semblance to reality. The mainstream media always reports just the seasonal hocus pocus while ignoring the actual number. That actual number…
Tag Archive for Devil In The Details
Liquidity Trader, Professional Edition
Devil In the Details – Professional Edition
by Lee Adler • • 0 Comments
Mortgage applications rose last week, but the devil is in the details. Only refis increased in response to lower rates. Purchase apps fell sharply again, with the index still refusing to break a 19 month downtrend line. Meanwhile, the Treasury market has had another vicious turn. Click here to download complete report in pdf format…
