Salient to Investors:
Joseph LaVorgna at Deutsche Bank Securities says the economy is muddling through, while concerns about the collapse of manufacturing are grossly overblown, and we’re in a housing recovery.
Britons repaid more mortgage debt than they borrowed in May for the first time in at least 15 years.
Manufacturing in the Philadelphia area shrank in June at the fastest pace in almost a year, while New York-region factories expanded at the slowest pace in seven months.
Millan Mulraine at TD Securities says housing is finally on the mend.
Michael Feroli at JPMorgan Chase expects manufacturing to slow in the middle of the year.
Jennifer Lee at BMO Capital Markets expects moderate U.S. growth.