US companies expanded payrolls by 202,000 in June, the Labor Department reported today. The solid gain marks the second time in as many months that employment grew by more than 200,000.
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The yield spread for 10-year less 2-year Treasuries dipped to 29 basis points on Thursday (July 5), the lowest since August 2007. Will the Federal Reserve tempt economic fate with another rate hike that could push the 10-2-year spread into negative terrain, which would widely be interpreted as a warning that a new recession is near?
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US-China trade war heats up: Reuters
Trump scheduled to meet Russia’s Putin later this month: NY Times
US job cuts up 18% in June vs. May: CG&C
US Services PMI: growth remained strong in June: IHS Markit
US Non-Mfg Index: growth accelerated in June: WSJ
FOMC minutes: Fed eyes recession risk but is upbeat on US economy: Reuters
German industrial output rebounded sharply in May: FT
ADP: US private payrolls increased by moderate 177,000 in June: MW