PMI Manufacturing Index (May 2013)
– Level 52.3. Previous was 52.1.
Translation: modest growth.
ISM Manufacturing Index (May 2013)
– Level 49.0. Previous was 50.7.
Translation: modest contraction. This is the lowest reading since June 2009.
Construction Spending (April 2013)
– Construction Spending Month/Month change 0.4%. Previous was -1.7%.
Construction on single family residential was +1.4%.
Some words about Treasury techs:
Here’s a some important Treasury technical analysis. The notion is that this establishes a baseline for rates on all fixed income securities including mortgages. The techs are at a place where if they lose a couple of point in price there is no technical support. If this level is broken through, prices could free fall and rates rise sharply.