Durables

Karim writes: Strong underlying data, though series very volatile Orders ex-aircraft and defense up 4.1% Here is what the last 6mths look like: +4.1%; -5.3%; +3.6%; +4.7%; -2.8%; +6.7% Y/Y gwth is 22.2% Trends look like reversal of prior month: auto sector weaker, computers and machinery stronger