As the macro data engine slowly starts to grind back into motion, we are given glimpses of what happened 'months' ago. Earlier we got some jobless claims data from four weeks ago, and now we get Durable Goods and Factory Orders data from August... and the data we got was kinda meh... August Factory orders rose 1.4% MoM (a big swing from the 1.3% MoM decline in July and an even bigger drop in June) but in line with expectations. This bounce lifted Orders by 3.8% YoY...{chart} Core Factory Orders also rose (just 0.1% MoM), lifting orders 1.53% YoY in August...{chart} More broadly, durable goods orders (final for ... (full story)