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The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week increase of 7.3% last week, which is the first increase since the second financial stimulus program for home sales came to a close at the end of April.

At 8:30 AM EDT, the Housing Starts report for May will be released.  The consensus is that construction on 650,000 new homes were started last month due to a decrease in hosing permits granted in April.

Also at 8:30 AM EDT, the Producer Price Index for May will be released.  The consensus is that the index decreased 0.5% over last month, and increased 0.1% when food and energy are excluded.  The expected decrease in the overall index is being attributed to lower gas prices.

At 9:15 AM EDT, the Industrial Production report for May will be released.  The consensus is that there will be a gain 0f 1% in production and a gain of 0.8% in industrial capacity utilization.

At 5:45 PM EDT, Federal Reserve Chairman Ben Bernanke will speak the Conference on the Squam Lake Report in New York about financial reform.

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