Cautious; Locking short term

Bonds are holding on to their recent gains as prices continue to climb back from their recent selloff as Stocks look to be topping out at current levels after failing to close above 4-year highs earlier in the week.

Durable Orders in July rose more than expected but within the report it showed that general business spending declined, stoking fears of a slowing US economy. The data lent some support to the Bond markets.

I grow cautious and I recommend to lock short term transactions, but in the longer-term I feel that floating is prudent given the obstacles that the US economy faces.

Leonard Winslow
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