Durable Goods’ Big Beat

July Durable Goods orders came in at 11.2% versus 4.8% expected, driven largely by jumps in autos and defense spending.

YoY, orders are still down 5%.Futures are up slightly on the news, propped up by VIX’s 15% drop from yesterday’s highs and tempered by the question of how the Fed will receive the positive economic news.

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