Breakfast briefing: Surprisingly strong US data undermines bears

Here's our summary of key economic events overnight that affect New Zealand, with news of a raft of strong first-tier US data. This is the third straight month of rising durable goods orders, led by a surge in orders for aircraft and motor vehicles. Year-on-year they are up +7.3% so a real, after inflation gain now. Wall Street has opened its Tuesday trade with a strong +1.1% gain in the S&P500. That means the TWI-5 is now just on 70 and down a mere -10 bps since this time yesterday.