Stocks are expected to outperform bonds in the long run, but how much is too much over a medium-term horizon?
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Trump signs order ending policy of separating migrant families: Politico
European Union set to roll out retaliatory tariffs on US exports: BBC
A strong economy gives US an edge in trade negotiations: NY Times
Senate rejects Trump’s plan to claw back spending approved by Congress: The Hill
Contentious OPEC meeting focuses on debate over lifting oil production: Reuters
US existing home sales dip for second month in May: HousingWire
Current account deficit for US widened to 2.5% of GDP in Q1: Reuters
Gold drops below $1275 an ounce — a new 2018 low: Kitco

The US stock market (S&P 500) continues to trade below its record high, which was set in January, but the bull market is arguably still running. Any number of threats could derail the trend, including a trade war that may be escalating between the US and China. But for the moment, there’s still room to argue that the upward bias in stocks, although battered of late, is intact.
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US announces it will withdraw from UN Human Rights Council: CNN
White House insists US has edge over China in trade dispute: WSJ
GOP looks for ways to solve Trump’s border crisis: The Hill
NY to sue Trump administration over over family border separations: Reuters
Is US economic growth in Q2 peaking? Bloomberg
US Commerce Secretary shorted stock ahead of negative story: NY Times
Americans seeking disability benefits plunges as economy strengthens: NY Times
US housing starts rebounded in May to an 11-year high: MarketWatch

I’ve received several emails asking if my new R book — Quantitative Investment Portfolio Analytics In R: An Introduction To R For Modeling Portfolio Risk and Return — is available in the UK and Europe. In a word, yes (as well as ja, oui, and sí,), although please note that in all cases the text is still in English (or American, as the British would probably advise). In any case, here are the book’s Amazon links for readers in the UK, Germany, France, Italy and Spain:

Amazon UK
Amazon Germany
Amazon France
Amazon Italy
Amazon Spain

And, of course, you can also find the book on the Amazon US site.

Estimates for US economic growth in the second quarter continue to project a strong rebound following Q1’s subdued gain. But the upbeat outlook may falter in the second half of the year if the White House’s tough talk on trade policy is implemented and China responds in kind.
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Trump threatens another $200 bill in tariffs on Chinese imports: Bloomberg
China vows to retaliate over latest US threat of new tariffs: Reuters
N. Korea’s Kim Jon Un returns to China: NY Times
White House defends controversial child-separation policy at border: Reuters
UK prime minister facing new challenges in Brexit policy: Bloomberg
Senate votes to reimpose US ban on Chinese telecom giant ZTE: Politico
US homebuilder sentiment stumbled in June after lumber costs spike: CNBC
38% of Americans satisfied with US direction, a 12-year high: Gallup

Quantitative Investment Portfolio Analytics In R: An Introduction To R For Modeling Portfolio Risk and Return rolled off the presses earlier today for the first time. The book is currently available as a softback title. Stay tuned for details on an upcoming Kindle version. Meantime, after nearly four years of writing in my “spare” time, I’m thrilled (and relieved) to announce that my third book has arrived. You can find the table of contents here. In the days ahead I’ll publish a chapter excerpt on CapitalSpectator.com, including code. Stay tuned.

Meantime, courtesy of the book’s release, your editor is now rolling in free time for evenings and weekends for the foreseeable future. Just in time for the summer!

Selling dominated global markets in last week’s trading. US stocks and bonds posted gains, but the rest of the major asset classes retreated over the five trading days through June 15, based on a set of exchange traded products.
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Migration politcy threatens German chancellor’s political future: Bloomberg
Trade war fears are weighing on global commerce: NY Times
Global stocks and oil prices fall on Monday as trade spat heats up: Reuters
Consumer Sentiment Index for US rose to 3-month high in early June: CNBC
US industrial output slipped 0.1% in May: AP
NY Fed Mfg Index in June jumps to highest level in 8 months: MW
Big companies are grabbing a larger share of the workforce: NY Times