MBS MID-DAY: Bouncing Back From EU Summit Weakness

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* Both Incomes and Outlays as expected. No real surprises in the report. Markets continue to be more interested in Europe.

From the BEA:

Personal income increased $25.4 billion, or 0.2 percent, and disposable personal income (DPI)
increased $18.5 billion, or 0.2 percent, in May, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) decreased $4.7 billion, or less than 0.1 percent. In April,
personal income increased $29.4 billion, or 0.2 percent, DPI increased $19.5 billion, or 0.2 percent,
and PCE increased $16.2 billion, or 0.1 percent, based on revised estimates.

Real disposable income increased 0.3 percent in May, compared with an increase of 0.1 percent
in April. Real PCE increased 0.1 percent in May, the same increase as in April.

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