Existing Home Sales Plunge

Filed under: Bad News, Market Matters, Economic Data, Headline News, DJIA, Housing, Federal Reserve, Recession

The big story today is about housing. It is not good. Existing home sales plunged 27% in July, according to a Bloomberg News survey.



That news wrecked havoc with the markets. The Dow was down over 100 points. On the bright side, US treasuries roared ahead to the lowest yields on record. The yield on the benchmark 10 year note fell to 2.49%. The yield on the two year note is at .4542%. Yes, you read it right. It is less that half of one percent.

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Existing Home Sales Plunge originally appeared on BloggingStocks on Tue, 24 Aug 2010 18:30:00 EST. Please see our terms for use of feeds.

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