Durable Goods Orders
January's Durable Goods Orders data was posted at 8:30 AM ET, revealing a 0.2% decline in new orders for big-ticket products. This was a small decline than was expected (1.2%), meaning overall orders were stronger than thought. Even a secondary reading that excludes more volatile transportation orders, such as new airplanes, came in stronger than forecasts. The data is considered to be important and the stronger readings are negative for bonds and mortgage rates. Fortunately, the coronavirus is taking centerstage again, making the data irrelevant at the moment.