by Calculated Risk on 7/23/2012 10:08:00 PM

The key stories today were about Europe (once again). The yields on Spanish and Italian bond yields increased. Ezra Klein calls a graph of Spanish bond yields the scariest chart in the world today.

Also Spain and Italy banned some short selling and Moody's downgraded their outlook on Germany's rating to negative. Another day in the eurozone crisis.

On Tuesday:
• At 9:00 AM ET, the Markit US PMI Manufacturing Index Flash will be released. This is a new release and might provide hints about the ISM PMI for July. The consensus is for a reading of 52.6, down slightly from 52.9 in June.

• At 10:00 AM, the Richmond Fed Survey of Manufacturing Activity for July will be released. The consensus is for an increase to 0 for this survey from -3 in June (above zero is expansion).

• Also at 10:00 AM, the FHFA House Price Index for May is scheduled to be released. The consensus is for a 0.3% increase in house prices.