Weekly Indicators: spreads fall to 10 year low edition

November housing data was all strongly positive, including permits, starts, and new and existing home sales. Partly as a result of that, the Index of Leading Indicators increased. Personal income and spending were up, but at the expense of a decline in the savings rate.  Durable goods rose overall, but core goods fell slightly. Sentiment as measured by the University of Michigan, particularly as measured by the forward-looking expectations component, declined.