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Economic Report Summary: More Bad News for Housing and Manufacturing
Posted on June 22, 2008
More bad news for both housing and manufacturing highlighted last week's economic reports. Stocks and bonds ended with the S&P 500 Index down 3.1 percent to 1,318 (for a year-to-date total return of 9.3 percent) and the yield of the 10-year U.S. Treasury note declined 11 basis points to 4.16 percent. Treasury International Data Flows: There seems to be little let-up in the appetite of foreign investors for U.S. assets as evidenced by last month's increase in net purchases of long term securities from a downwardly revised $79.6 billion in March to $115.1 billion in April. Demand for U.S. Tre...
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