Top-tier data expected this week
WEEKLY MARKET COMMENTARY |
The meeting this week between the European Union, European Central Bank, the International Monetary Fund and the Greek negotiating team will be crucial in determining whether a summer financial disruption can be avoided.
Meanwhile, in the United States, investors will see a series of top-tier data that will provide fresh information on home sales, new bookings for durable goods, income and spending, and the final estimate of first-quarter growth. Given the strong probability of significant revisions on July 30 to the growth data, investors should likely look past that and instead focus on the stream of recent data which points to growth at or above 3 percent in the current quarter.
This week the Federal Reserve will send out four speakers to address monetary policy and the economic outlook. The U.S. Treasury will also issue $13 billion in 2-year and $35 billion in 5-year notes on Wednesday, and $29 billion in 7-year notes on Thursday.