The highlight on the data calendar for the shortened holiday week is Tuesday’sGDP print, in which we expect the second estimate of third quarter GDP to rise from 1.50% to 2.10%. Today we get Manufacturing data and Existing Home Sales, followed by tomorrow’sGDP, and Wednesday’sPersonal Spending/Income and House Prices/ Sales. Markit US Manufacturing for November fell to 52.60 vs. 54.10 prior (consensus 54.00). Existing Home Sales came in below expectations down 3.40% (consensus -2.70%) following a 4.70% advance in September. Treasuries are hovering just below last Friday’s close and the curve has flattened slightly with 2s10s down 0.3 bps.
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