Economics Update

The lede here is that capital goods orders fell and contracts existing home sales rose in August.

Note that the home purchase data is still well below what it was a year ago, and that capital goods orders ex-airliners was up.

On a slightly more concrete level, bankruptcies have hit the highest level since the congress sold out to the banksters with bankruptcy "reform" in 2005.

Finally, it looks like the invisible bond vigilantes remain in hiding, as, the yield on Treasuries 2-year fell to a record low, 0.37% (!).