Treasury yields made a decisive move lower yesterday in a sign that the market is seeing a break lower in inflation, and perhaps growth. However that came with a flurry of moves into month-end along with the turmoil in the Middle East that could be sending a false signal.
Today we put the focus back on the data with initial jobless claims and unit labor costs at the bottom of the hour. Look for a drop in claims as last week’s hurricane-influenced number reverses.
Then at 10 am ET, we get June construction spending and the July ISM manufacturing index. For more, see the economic calendar.
This article was written by Adam Button at www.forexlive.com.
