by Calculated Risk on 7/02/2013 08:10:00 PM

The Egyptian "deadline" is tomorrow, from CNN: Showdown? Egypt's Morsy defies military 'ultimatum'

Egyptian President Mohamed Morsy refused Tuesday to bow to a military ultimatum that he find a solution to the unrest sweeping the country or be pushed aside, setting the stage for a possible showdown.

Morsy declared he was elected president in balloting that was free and representative of the will of the people.
...
It was unclear what steps the military would take given Morsy's refusal to meet its Wednesday evening deadline. The military has previously stopped short of saying that it was suggesting a coup.

Hoping for the best for the people of Egypt.

Wednesday:
• Early: the Reis Q2 2013 Mall Survey of rents and vacancy rates.

• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, the ADP Employment Report for June will be released. This report is for private payrolls only (no government). The consensus is for 165,000 payroll jobs added in June.

• At 8:30 AM, the Trade Balance report for May from the Census Bureau. The consensus is for the U.S. trade deficit to increase to $40.8 billion in May from $40.3 billion in April.

• Also at 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for a decrease to 345 thousand from 346 thousand last week.

• At 10:00 AM, the ISM non-Manufacturing Index for June will be released. The consensus is for a reading of 54.5, up from 53.7 in May. Note: Above 50 indicates expansion, below 50 contraction.

• Also at 10:00 AM, the Trulia Price Rent Monitors for June. This is the index from Trulia that uses asking house prices adjusted both for the mix of homes listed for sale and for seasonal factors.