Economic Week in Review
Summary: A pair of reports on new and existing-home sales gave mixed readings on the housing market for December but confirmed that home sales in 2006 dropped significantly from record levels in 2005. In other reports this week, orders for durable goods increased and an index of leading economic indicators ticked upward. The S&P 500 touched a six-year high on Wednesday but decreased 0.4% for the week to 1,422. The yield of the 10-year U.S. Treasury note increased 11 basis points to 4.88%.
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