After June's Boeing-driven collapse, US Durable Goods Orders were expected to rebound strongly in July (preliminary data released today) and they did - jumping 9.9% MoM (vs +5.0% exp) from June's 6.9% MoM plunge. That is the biggest MoM jump in orders since July 2020's post-COVID lockdown bounce...
Source: Bloomberg
However, ex-Transports, orders dropped 0.2% MoM (worse than the 0.1% decline expected) and leaving core orders up just 0.6% YoY...
Source: Bloomberg
Once again it seems like it's all Boeing (one way or the other)...
Source: Bloomberg
So what happens in August as the new planes go under inspection...?
