US Treasurys fall as investors pore over key economic data

Personal income in the United States was unchanged in June versus expectations of a 0.3 percent increase, according to Reuters.

Consumer spending ticked up in June, according to the Commerce Department. Personal consumption expenditures increased a seasonally adjusted 0.1 percent in June from the prior month, meeting the Street’s 0.1 percent expectations.

The IHS Markit Manufacturing PMI and the ISM manufacturing index are due at 9:45 a.m. ET and 10 a.m. ET, respectively. Construction spending numbers are also set for release at 10 a.m.

U.S. auto makers will also release monthly sales numbers throughout the day. The data dump Tuesday will serve as a lead-up into Friday’s U.S. employment report, which is often considered the most important economic report of the month. Economists polled by Reuters expect the U.S. economy to have added 180,000 jobs last month.

Investors will examine every piece of economic data this week for clues about the Federal Reserve’s next monetary policy move. Market participants aren’t expecting the Fed to raise rates again this year until December, but the central bank has hinted it could start rolling off its massive $4.5 trillion balance sheet in September.

The White House was once again on investors’ radars after the recently appointed communications director Anthony Scaramucci was ousted on Monday. He was in the position for just 10 days.

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