Markets decline on Bhutto assassination & durable goods orders

Stock markets pulled back on negative international news & weak durable orders data. Dow declined 192, decliners outnumbered advancers more than 3-1 while NAZ was down 48. Treasury bond yields declined 8 basis point to 4.20% (bonds found many buyers). Banks & REIT's sold off while MLPs held about even after their nice run up in recent days.

The early buzz on retail sales is pretty ugly. They're talking about the worst season in 5 years. Just looking at ads in the papers, the stores appear to be pressing hard for sales gains spelling lower margins on sales. Housing remains in a slump & the mortgage mess continues. Citigroup (C) is widely expected to cut their dividend to keep more cash on the balance sheet. This month the Dow is struggling to record a gain. Today it's touch & go.