In short, this week [July 21 to July 25] was largely a wash which makes sense ahead of next week's data slam when we get both the all important NFP and Q2 GDP prints. While NFP will almost certainly be a continuation of the part-time jobs soaring trend seen in recent months, the biggest question is whether Q2 GDP will print above or below 2.9%: if below, then the entire first half of 2014 will be negative, which according to some purists is equivalent to a technical recession. A bigger question is what climatic event will the scapegoat crew blame a collapse in Q2 GDP on[?]
