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June 24, 2013

Treasuries Continue Free-Fall

June 24, 2013

Treasuries Continue Free-Fall

Chicago Federal Reserve National Activity Index  (May 2013)

– Level -0.30.  Previous was -0.53.

This is a weighted average of 85 monthly indicators of national economic activity.  Details are here.

Dallas Federal Manufacturing Survey  (May 2013)

– Business Activity Index +6.5.  This was after losses in the two previous readings.

This is an index which measures manufacturing in the Lone Star State.  Details here.

Treasury markets are in technical free-fall.  By that I mean only that they are no technical support levels.  We are seeing a Fed QE exit priced out of both equities and Treasuries.  The effects are painful.