Monthly Archives: June 2020

Macro Briefing | 24 June 2020

Fauci tells Congress virus not under control amid surging cases: NY Times
Next several weeks will be critical coronavirus test, Fauci says: AP
Europe may ban US travelers due to coronavirus: CNN
Survey of economists: 73% expect partial US economic recovery: FiveThirtyEight
New US agency may loan billions for reshoring supply chains: Reuters
US considers new round of tariffs on UK and European imports: Bloomberg
German business sentiment posts strong rebound in June: Reuters
New US home sales surged in May: MW
Richmond Fed Mfg Index bounces back in June after deeply negative month: RF
US economic contraction eases “markedly” in June: IHS Markit

Macro Briefing | 23 June 2020

Trump extends limits on work visa through end of year: Politico
Trump: China trade deal remains ‘fully intact’: Bloomberg
White House trade adviser denies saying China trade deal is ‘over’: CNBC
Trump administration labels more Chinese news outlets “foreign missions”: NPR
Eurozone recession eases for a second month in June: IHS Markit
UK economy remains in recession but turnaround in progress: IHS Markit
Chicago Fed Nat’l Activity Index posts strong rebound in May: Chicago Fed
US existing home sales fell sharply in May to lowest level in 10 years: MW

Macro Briefing | 22 June 2020

Global Covid-19 cases rise by a record amount, World Health Org reports: Reuters
Blood type may be risk factor for contracting Covid-19: MW
Is risk of war rising between Egypt and Turkey in Libya battle? JP
India considers closer US ties after deadly border clash with China: WSJ
Cash deposits at US banks surge to record level: CNBC
US home-mortgage delinquencies rose to nine-year high in May: Bloomberg
Bets on steeper yield curve are becoming popular: Bloomberg
Companies raise cash holdings as pandemic reorders priorities: WSJ
Almost half of US states report rise in Covid-19 cases: CNN
Daily change in US Covid-19 fatalities falls to post peak low:

Book Bits | 20 June 2020

Think for Yourself: Restoring Common Sense in an Age of Experts and Artificial Intelligence
Vikram Mansharamani
Summary via publisher (Harvard Business Review Press)
We’ve outsourced too much of our thinking. How do we get it back? Have you ever followed your GPS device to a deserted parking lot? Or unquestioningly followed the advice of an expert–perhaps a doctor or financial adviser–only to learn later that your own thoughts and doubts were correct? And what about the stories we’ve all heard over the years about sick patients–whether infected with Ebola or COVID-19–who were sent home or allowed to travel because busy staff people were following a protocol to the letter rather than using common sense? Why and how do these kinds of things happen? As Harvard lecturer and global trend watcher Vikram Mansharamani shows in this eye-opening and perspective-shifting book, our complex, data-flooded world has made us ever more reliant on experts, protocols, and technology.
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Macro Briefing | 19 June 2020

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

Macro Briefing | 18 June 2020

Trump requested political help from China’s Xi, Bolton book asserts: Politico
Oklahoma officials worry that Trump rally will fan Covid-19 infections: CBS
Pressure is building on India to respond to border clash with China: CNBC
China’s chief epidemiologist: Beijing coronavirus outbreak under control: CNBC
Global investment flows to China remain resilient despite coronavirus: BBG
US jobless claims expected to remain elevated in today’s update: Reuters
Treasury Secretary: global tax talks are at an impasse: WSJ
US Sec. of State meets China’s top diplomat amid rising tensions: NPR
Richest Americans cut spending the most during coronavirus recession: NYT
Mortgage applications surge to 11-year high: CNBC
US housing starts, after dramatic fall, rose modestly in May: MW