Macro Briefing: 12 July 2018

Trump roils NATO meeting in Brussels: LA Times
Will Trump’s attacks on NATO help Russia’s Putin? CNN
Business groups, congressional Republicans have worries over trade war: The Hill
European Commission trims estimate for Europe’s GDP growth in 2018: RTT
Crude oil drops sharply over fears of falling demand, rising supply: MarketWatch
Morgan Stanely predicts US Treasury yield curve will invert in 2019: Bloomberg
The US-driven trade war has cost a typical American family $60 (so far): NY Times
Wholesale inventories for US revised up for May: Reuters
US wholesale inflation picked up to six-year high in June: MarketWatch