Dow Overcomes the Negatives

The 30-year Treasury bond slipped 3/16 to yield 4.72% while the 10-year fell 1/16 to yield 4.59%. The two-year was unchanged, yielding 4.71%.

The one thing that didn't go topsy-turvy Tuesday was the housing market. While evidence of a bottoming process continues to accumulate, as new home starts were slightly higher than expected, building permits were weaker than expected.

"The decline in starts along with the downtrend in building permits imply that residential investment and construction employment will remain weak into the new year," writes Peter Kretzmer, economist at Banc of America Securities.

At least there's something to count on.