* UK Prime Minister Johnson’s leadership is hanging by a thread
* Demand for US workers still robust, according to private-sector estimates
* New covid outbreaks in China put millions under lockdown In China
* Will today’s release of Fed minutes support another 75-basis-point rate hike?
* US dollar’s international status remains unchallenged, Fed study finds
* Chinese automaker BYD overtakes Tesla world’s largest electric vehicle seller
* Oil fell below $100 on Tuesday for first time in almost two months
* US factory orders rose more than expected in May:

Reshoring production capacity appears to be accelerating. Bloomberg reports: “Rattled by the most recent wave of strict Covid lockdowns in China, the long-time manufacturing hub of choice for multinationals, CEOs have been highlighting plans to relocate production — using the buzzwords onshoring, reshoring or nearshoring — at a greater clip this year than they even did in the first six months of the pandemic, according to a review of earnings call and conference presentations transcribed by Bloomberg.”

US dollar rises to highest level in nearly two decades. “Recession fears are now driving currency markets, more than central bank policies or interest rate differentials,” a trend that supports the dollar, advise analysts at financial services firm Ebury.