Morning News Tuesday July 31st 2007
General News: - Personal Consumption Expenditures (PCE) rose in line with expectations at 0.1% with core up 0.1% as well - Employment Cost Index (ECI) data shows government compensation up 1.1% and trending stronger than the private sector. Wages and salaries are tame and show signs of mean reversion. Financial activity was hard hit. - Headlines are saying that TXU buyers are considering a pull out and could pay $1 billion in break up fees. - In an SEC filing, PIMCO’s Bill Gross is said to have bought 100,000 shares of a corporate bond fund on July 25th. - The…