WS #14782
Holding: newest synthesis is 12d 4h old
US durable goods orders stalled at 0.0% M/M in August, missing estimates and revising lower, while 197k jobless claims and 684k new home sales offer limited support. This data reinforces the 'higher for longer' rate environment, squeezing weaker credits and validating the Fed's cautious stance. The lack of growth momentum dampens bullish equity narratives.
US Macro Data Stagnation
US durable goods orders stalled at 0.0% M/M in August, missing estimates and revising lower, while 197k jobless claims and 684k new home sales offer limited support. This data reinforces the 'higher for longer' rate environment, squeezing weaker credits and validating the Fed's cautious stance. The lack of growth momentum dampens bullish equity narratives.