Pouring Keynesian Waste Into Davy Jones’ Locker: Yesterday’s $18 Billion “Upside Surprise”

The algos were raging yesterday morning because April durable goods orders were up by an unexpected 0.8%. Well, yes they were: The US Navy inked a gigantic $18 billion order for 10 new nuclear-powered attack submarines during the month........But folks, the US Warfare State doesn't need no more stink' in nuke submarines. It already has more than 70 in service, and several more beyond yesterday's huge order were already in the order pipeline....
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