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It may be July 4th week in the US, but we don't expect many fireworks on the economic data front. Of course, surprises could come from events in the Middle East, as Israel, Iran, and the Trump administration figure out whether the ceasefire will hold or missiles will start flying again. Surprises could also come from Trump's trade negotiations. A bunch of deals are expected in coming days.
On Capitol Hill, the Senate today passed a revised version of President Donald Trump's 940-page Big, Beautiful Bill, getting it closer to Trump's July 4 deadline. The question now is whether the House will embrace Senate alterations to the original House version of the legislation.
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