Morning Note - July 23, 2021

Good Morning!

Futures are moderately higher (by roughly half a percent) going into the PMI reading this am. This would be a four-day winning streak. The 10-yr is approaching 1.3%. Small caps and tech are leading the way. Oil is down again.

Bipartisan infra deal continues to inch forward; a vote is possible next week? Post-infra, debt ceiling the next big…