A big week for data will cause volatility in both stock and bond prices.
A huge amount of data will be released this week. This data should provide evidence of the strength of the rebound from re-opening from the pandemic. As recently as a month ago, forecasts called for growth of better than 10% for the second quarter. This would follow the 6.4% rebound in the first quarter. The consensus forecast has dropped to 8% growth for the quarter due to the slower data reported for late May and June. For example, personal consumption expenditures were reported as unchanged in May. Auto sales dropped from very strong May data in June.
PROBANK AUSTIN ADVISOR - JULY 26, 2021