US DATA: Jun factory new orders -0.8%, only slightly above the -0.9%
expected as nondurable orders were flat and durables orders rev up to
-1.9% (prev -2.1%). Total fac orders ex. transport +0.1%, with transport
-8.6% (prev -8.5%). The other factory data were more positive. Factory
shipments +0.2%, with nondefense capital goods shipments +1.2% and +1.1%
ex. aircraft. Factory inventories also +0.2%, while unfilled orders
+0.3%. Inventory-to-shipments ratio 1.34 vs 1.34 in May.