This week we get data on Durable Goods, House Prices, GDP, PMI and Income with auctions for the 2-Year, 5-Year, and 7-Year notes. The Chicago Fed National Activity Index slowed in June to +0.12 following a revised +0.16 in May, and for July the Index jumped +0.39 (consensus +0.20). The Markit PMI Services Index for July posted well above the break-even (50) at 60.8 and the August release is expected to decline, albeit still above the break-even level, to 58. New Home Sales came in at 406K in June following May’s -62K downward revision to 442K and for July is expected to post 430K (+5.9% MoM). The Dallas Fed Index edged up in July from 11.4 to 12.7 and for August consensus is for 12.5. Treasuries hover little changed from Friday’s 2:00 PM (PDT)close.
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