Morning Journal-Geithner: up to his ears in Libor

Economics

This Week’s Data

June new home sales fell 8.3% versus expectations of a 1.6% increase.
http://www.calculatedriskblog.com/2012/07/new-home-sales-declined-in-june-to.html

Weekly jobless claims fell 33,000 versus estimates of a 6,000 decline; seasonal adjustments continue to heavily influence these numbers.
http://www.calculatedriskblog.com/2012/07/weekly-initial-unemployment-claims_26.html

June durable goods orders rose 1.6% versus forecasts of up 0.6%; however, ex transportation orders, they dropped 1.1% versus an anticipated increase of 0.2%.

Morning Journal-Our bungled bank bail out

Our bungled bank bail out

Economics
This Week’s Data

Other

The Chicago Fed’s National Activity Index improved in June (short):
http://www.capitalspectator.com/archives/2012/07/chicago_fed_nat_2.html#more

The future of manufacturing (short):
http://mjperry.blogspot.com/2012/07/2020-headline-protests-break-out-in.html

What the TIPS are telling us (short):
http://scottgrannis.blogspot.com/2012/07/the-message-of-tips-extremely-weak.html

China PMI gives mixed picture (short):
http://www.zerohedge.com/news/chinas-schrodinger-economy-continues-contract-and-expand-same-time

Weekly update on gasoline (short):
http://advisorperspectives.com/dshort/updates/Gasoline-Update.php