Markets Spooked by Two Dreary Signals: Debt, Durables
It is the forward-looking nature of two key indicators that appears to be weighing on stocks. Declines in durable goods orders mean less manufacturing down the road, and a failure to get a debt deal means the two parties are so at odds they are willing to hold creditors hostage.
Lazy, Hazy, Crazy...
Some summer reading to keep you up to speed on acr