Mean Reversion Kicks In, Forcing Dollar Retreat
Treasury yields are slipping for a second day as an early-week barfing episode gets washed out of markets, the dollar is retreating, and rival currencies are edging higher ahead of the North American equity open. Orders for durable goods fell by more than expected last month, but changes in aircraft orders obscured a relatively-positive read on underlying fundamentals. On a headline basis, new orders for goods meant to last more than three years fell -0.8 percent in the United States in September, but core capital goods – which exclude aircraft and defence products – climbed 0.5 percent, building on August’s...