New Home Sales Tank!

By: Matthew Graham • Thu, Apr 24 2008, 8:14 AM

Surprise Surprise!

Inventory is at 11 months. The pace of sales slowed to 526,000 annual rate. Consensus was for 580,000.

This and other factors have helped shoot down the Stock plane (which never really got off the ground) and have halted the slide in the fixed income market.

Floating seems to be the best choice given current market conditions.