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  • Today - Wednesday, May 23

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    1:17 PM Treasurys trim strong gains slightly after a so-so five-year note auction; the 30-year yield now -0.07 to 2.79%; 10-year -0.05 to 1.72%; five-year -0.02 to 0.734%. Comment!
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    1:04 PM The Treasury sells $35B in five-year notes at 0.748%. Bid-to-cover ratio of 2.99, vs. a recent average of 3.0; indirect bidders take 42.6%, vs. a recent 43.7%. Direct bidders take 6.5%, vs. a recent 12.2%. 1 Comment
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    10:51 AM The American Trucking Association's seasonally adjusted Truck Tonnage Index fell 1.1% in April after increasing a revised 0.6% in March. April’s decrease "matches with an economy that is likely to grow slightly slower in the second quarter than in the first quarter," ATA chief economist Bob Costello says. Comment!
  • XHB
    10:24 AM The XHB pops, but then drops on the better-than-expected new home sales print. Obviously, the overall market is struggling, but also of interest was the earlier MBA Mortgage Application report. The reported gain was nearly all from refinance activity, while purchase activity remains flat. XHB -0.8%. Comment!
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    10:06 AM April New Home Sales: +3.3% to 343K vs. 335K expected, 328K (revised) prior. Median prices +0.7% to $235,700. Comment!
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    10:04 AM Mar. FHFA Housing Price Index: +1.8% month-on-month, vs. +0.3% in Feb. Comment!
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    8:12 AM The Gallup Economic Confidence Index rises to -16, the highest-ever level in the 4+ year history of the survey. The index has two components - current conditions and economic outlook, and the economic outlook - though still negative - is the highest since January 2008 despite a brutal few weeks for the stock averages. 1 Comment
  • TOL
    8:07 AM More on Toll Brothers (TOL) FQ2: swings to a net profit of $16.9M from a loss of $20.8M last year, helped by lower inventory writedowns. Homes delivered +14% to 671, net signed contracts +47%, cancellation rate falls to 2.4% from 3.9%. "It appears that the housing market has moved into a new and stronger phase of recovery," CEO Douglas Yearley says. Comment!
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    7:05 AM MBA Mortgage Applications: +3.8% vs. +9.2% last week. Thirty-year fixed mortgage rate with conforming loan balances ($417,500 or less) decreased to 3.93% from 3.96%. 1 Comment
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    6:31 AM U.S. stock futures point lower after European markets drop off ahead of a summit meeting of leaders in Brussels. S&P -0.7%, Dow -0.7%. Comment!
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