Early Update – Extremely Low Conviction Trade

11:30 a.m. ET Since the A.M. Update we’ve received Industrial Production. Downward revisions to prior months helped Industrial Production rebound in July. Total industrial production increased 1.0% month-over-month in July (consensus 0.3%) following a downwardly revised -0.8% decline (from -0.5%) in June. The capacity utilization rate jumped to 79.3% (consensus 79.0%) from a downwardly revised…