Happy 4th of July! In honor of Uncle Sam’s birthday, The Capital Spectator will refrain from discussions of finance, economics, and otherwise engaging in analytical acrobatics… until the long holiday weekend in the US comes to a close. The standard routine commences anew on Monday, July 6. To paraphrase (and slightly modify) an observation by Thomas Jefferson in a letter to James Madison a few centuries ago, a little rebellion relaxation now and then is a good thing.

● US payrolls post a solid increase in June but wages are flat…
● US jobless claims jumped more than expected last week…
● And US factory orders slumped in May…
● The US consumer comfort index rose last week to its highest level since April…
● Eurozone Composite PMI increased to a 4-year high last month…
● While China’s services sector expands at slowest rate in over a year in June…
● Meanwhile, Europe braces for Greece’s referendum on Sunday on a bailout packaged that expired on Tuesday. Regardless, polling shows the public is evenly split.