US DATA: Feb durable goods orders -0.9% vs +3.6% in..

US DATA: Feb durable goods orders -0.9% vs +3.6% in Jan, and are
now down in 4 of the last 5 mos; ex transport -0.6% in 2nd drop, ex
defense +0.4%. Boeing Corp reported 21 new orders in Feb vs 34 in Jan
and 55 in Dec, but nondefense aircraft orders were +26.7% in Feb and
+5564% in Jan in a contrasting move. Transport orders -1.9%. The only
strength in Feb was in electrical eqpt at +2.6% after 2 mos of dips,
and in motor vehicles at +1.9%. So overall this was a weak report that
signals a slowing in mfg. Overall shipments +0.3%, and inventories +0.9%
completes the picture.