Macro Briefing: 5 July 2019

Does Trump’s Fed pick raise political risk for the central bank? NY Times
Economists expect a rebound in US job growth for June: Reuters
German factory orders plunged in May: Bloomberg
German and French 10yr bond yields fall to record lows: CNBC
US jobless claims remain close to half-century low: MW
Trade deficit for US surged in May to five-month high: Reuters
US job cuts rose to 10yr high in first half of 2019: CG&C
ISM Non-Mfg Index eased in June but still reflects moderate growth: ISM
PMI survey data points to ‘subdued growth’ for US services sector: IHS Markit
US factory orders continued to decline in May: Reuters
Slower growth trend expected for US private payrolls in today’s June update: