The worst of the coronavirus recession for the US has passed and a recovery is underway. But the strength of the recovery is in question after yesterday’s disappointing update on jobless claims, which remain stubbornly high.

Continue reading →

US Supreme Court deals Trump major setback on immigration policies: Reuters
Record spikes in Covid-19 cases in four big states: CA, AZ, FL & TX: CNBC
Trump renews threat to cut ties with China after diplomatic meeting: Reuters
China remains on track to ramp up purchases of US farm products: Bloomberg
UK gov’t debt tops 100% of GDP–first time since 1963: Bloomberg
China think-tank provokes India with territory claim amid border clash: TH
UK retail sales partially rebounded in May: BBC
US mortgage rates drop to new all-time low–3.13% for 30yr fixed: MW
Philly Fed Mfg Index posts strong rebound in June: PhilFed
US jobless claims continued to rise sharply last week–1.5 million-plus: CNBC