US: Jobless claims and durable goods orders in focus - BBH

Analysts at BBH point out that the US economic calendar includes the weekly jobless claims (expected to bounce back after last week unexpected fall), preliminary durable goods orders for June (expect a strong recovery in the headline after soft May), the June merchandise balance (expect little change) and wholesale and retail inventories.  

Key Quotes

“Economists will fine tune their forecasts for Q2 GDP which will be reported tomorrow.   We have penciled in 2.25%.  The Senate Banking Committee holds confirmation hearings on Fed nominee Quarles today.”  

“Also, the Senate continues to debate and vote on various proposals to pass a health care reform bill that would get the process to move to the reconciliation phase.  There, a joint committee of Republicans would bring the House and Senate versions together.  Meanwhile, the House is slated to start a five-week holiday on Friday, and tax reform and the FY18 budget (spending authorization) also appears to be stalling as the split between the moderate and conservative parts of the Republican coalition are at odds.”