Core Durables Goods Surge For 12th Straight Month, Push Bond Yield Higher
After a recent string of ‘soft’ survey data, this morning we get some ‘hard’ data and it was far stronger than expected.
Preliminary headline durable goods orders for March rose 0.8% MoM (better than the 0.5% MoM exp), and the first increase after a three month decline to start the year (which was the first 3-month decline since Nov 2019).
The increase took place despite continued weakness in aircraft orders manifesting as a 21.1% drop in nondefense aircraft and parts in March.
Meanwhile, core durable goods orders (prelim for March ) rose even more, up by 0.9% MoM (and stronger than the 0.4% expected.
That was 12 straight months of gains, pulling core orders up 7.62% YoY – the most since July 2022.
Bookings for non-defense capital goods orders excluding aircraft, a proxy for investment in equipment, surged by 3.3% MoM after an upward revised 1.6% increase a month earlier.
Finally, shipments figures (which plug into GDP) were also comfortably stronger than expected (+1.2% in March versus +0.6% forecast), which suggests upside risks to Q1 forecasts.
It remains to be seen, however, how the war impacted demand for capital goods.
Bond yields rose after the better-than-expected housing and capital goods data. The war is an ongoing risk that can belatedly sour hard economic data, but soft data is more up to date. On that front, we have yet to see the manufacturing ISM turn down. As Bloomberg’s Simon White notes (in the chart below) the ISM leads durable goods new orders by about three months.
Meanwhile, as reported earlier, housing data for March also held up well, largely thanks to housing starts, driven by one-unit structures, even as multi-unit ones fall. Building permits, on the other hand, were ugly, but that is a very forward looking leading indicator, and was likely driven by the spike in rates.
The US economy is overall in remarkably good shape given the age of the cycle. That should keep yields supported. However, the longer energy prices remain elevated, that will become more in question.
Tyler Durden Wed, 04/29/2026 – 09:43
Source: https://freedombunker.com/2026/04/29/core-durables-goods-surge-for-12th-straight-month-push-bond-yield-higher/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,805,647,374 |
| Stories: | 8,641,193 |
Whistler Blowers, Insiders
