US Equity and Economic Review: Once Again, We're Approaching Record Highs, Edition

     This week’s economic news was mildly positive.  On Tuesday, the Census released new home sales, which showed a stunning 16.6% M/M increase.  This was the strongest pace since 1992 and the highest level since 2008.  It’s difficult to overestimate the importance of this release.  Census released the durable goods report on Thursday.  While the headline number showed a 3.4% rise, the ex-transports number was a more subdued .4%.  Friday the BEA released the second estimate of 1Q GDP, which rose .8%.  The internals remained soft.  Personal con

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