We have lots of data on the calendar this week, including: Durable Goods, Home Price data, GDP, Personal Consumption, Personal Spending, and on Wednesdaythe Fed is expected to end QE3 asset purchases while holding the Fed Funds rate at 0.25%. The Markit PMI Services Index in September posted 58.9 vs. 58.5 at mid-month and 59.5 in final August, well over the breakeven 50. The primary October reading is expected to decline to 57.8. Pending Home Sales fell -1.0% in August, down -2.2% YoY, and consensus for September is for a +1.0% advance (MoM). The Dallas Fed Manufacturing Activity Index rose to 10.8 in September, nearly four points above its non-recession average of 7, and is expected to edge up to 11 for October. Treasuries are little changed this morning with 2s10s flat to Friday’s 2:00 PM (PDT)close.
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