It may come down to 59.5. This reading would not indicate a softer economy.

I'm really more concerned that the economy is taking up slack resources. That could be a little bit worrisome. I think the Fed continues to raise rates.

Stock losses are giving bonds some juice this morning; we're back to feeling that the economy is weak and that bonds are a buy here.

This is not going to be the easiest Treasury refunding sale,

This is not going to be the easiest Treasury refunding sale.

consumer spending has not been dented by the hurricane-inspired rise in gasoline prices and fears of higher home heating oil bills.