Financial Markets and Economy
More Americans See Economy Worsening Than at Any Time Since 2013 (Bloomberg)
More Americans in June saw the economy worsening than at any time in more than two and a half years, and a weekly gauge of consumer comfort also declined, according to figures from the Bloomberg Consumer Comfort Index released Thursday.
Are Money Managers Creating Too Many Products? (CNN)
Asset-management firms are launching too many new funds and risk attracting investors to products at the wrong time, says Vanguard CEO F. William McNabb III.
“I think the proliferation has gotten out of hand,” he tells a Morningstar conference. “I do worry about some of the new ideas out there.”
Hedge-Fund Consultant Bantered for Insider Information (Bloomberg)
The basic puzzle of insider trading is that it is legal to call up corporate executives or government officials and ask them questions, and it is legal to trade stocks, and it is even legal to trade stocks after asking your question and getting an answer, except that sometimes it isn't. You're supposed to be able to ask questions. If you're a shareholder of a company, that company's executives work for you. If you're a citizen of a country, its government's officials work for you. If you have questions, they should help.
Crude Oil in New York Set For Biggest Weekly Drop Since April (Bloomberg)
Oil headed for the biggest weekly decline in more than two months as easing global supply disruptions offset the recent recovery that pushed prices above $50 a barrel.
The dollar at 100 yen would be bad news for stocks (Market Watch)
After crashing through its September 2014 low versus the Japanese currency on Thursday, the dollar is on track to test the 100-yen level for the first time since late 2013.
Japanese markets are unraveling as risk aversion takes hold (Business Insider)
It's not been a good day for Japanese markets. Not one bit.
Stocks have been crushed. Japanese government bond yields have fallen to fresh all-time lows while the Japanese yen has screeched higher, jumping to the highest level seen in years against a number of major currencies, including the US dollar.
Strong Jobs Market, Weak Stock Market (A Wealth of Common Sense)
It may not feel like it for certain parts of the population, but the U.S. employment picture has continued to get stronger over the past few years.
Gold Daily and Silver Weekly Charts – The New Normal (Jesse's Cafe Americain)
"Maybe more of what is causing this rate to be low are factors that won't be rapidly disappearing but are part of the 'new normal.'"
How to Psychologically Prepare Clients for Bear Markets (Advisor Perspective)
You’re hearing dire predictions that the next major bear market is around the corner. Others say the bear is still a year or two away. But the truth is, the next bear market will come like the proverbial ‘thief in the night,’ and none of us can predict its hour or day.
Money’s Reach (Monbiot)
What it’s about is not what it’s about. The referendum is a proxy question. Underlying it is the fundamental political question, one that is seldom asked precisely because it cuts to the heart: how do we best keep money out of politics?
Brexit and Democracy (Mainly Macro)
Ambrose Evans-Pritchard writes eloquently and honestly about why he will be voting for the UK to leave the EU. Honestly because he gives chapter and verse on how “anybody who claims that Britain can lightly disengage after 43 years enmeshed in EU affairs is a charlatan or a dreamer.”
Politics
The Future of the Sanders Revolution (The Atlantic)
Bernie Sanders is not officially dropping out of the Democratic presidential race, or endorsing Hillary Clinton—at least not yet.
Speaking to supporters in a video address from Burlington, Vermont, Sanders outlined a vision for the future of his revolution on Thursday evening, though it remains to be seen whether the highly-ambitious agenda will translate into political reality.
Republican Leaders Cower as Trump Burns Down Their Party (Bloomberg View)
Smoke is rising from the Capitol dome and the first responders are missing in action. Instead of running into the building to save it from their presumptive nominee, Republicans are running away. Watch them scurry at the approach of a reporter wielding nothing more than a notebook or a mike asking about the latest outburst from Donald Trump. Senate Majority Leader Mitch McConnell's press briefings have been designated Trump-free zones. His No. 2, Senator John Cornyn, announced he won't take any Trump questions until after the November election.
Sanders vows to help Clinton beat Trump, but keeps campaign alive (Reuters)
Bernie Sanders promised on Thursday to work with presumptive Democratic presidential nominee Hillary Clinton to defeat Republican Donald Trump in the Nov. 8 election, but did not formally pull out of the race for the White House.
Technology
RoBattle Is Over 7 Tons Of Semi-Autonomous War Machine (Popular Science)
This week, war robots came to Paris. On display at the Eurosatory 2016 Land and Airland Defence and Security tradeshow, RoBattle is a modular machine from defense firm Israel Aerospace Industries (IAI). Seven tons itself, it can carry three tons of sensors, weapons, and other tools it may need for fighting. And much like the first tanks that were built for the difficult war-scarred muddy ground of the Western Front, the RoBattle can climb over difficult terrain. Mostly.
The Rolls-Royce of the 22nd century won't need a chauffeur (CNN)
Many Rolls-Royce owners don't drive the car themselves. They hire someone to do that. In the next century they won't even have to bother paying someone to drive their Rolls. The car will take care of the driving on its own.
Also, in the distant future, Rolls-Royce buyers won't have to bother with selecting from a limited model range and just choosing paint colors and interior options.
Health and Life Sciences
Scientists found a molecule in space that could help explain the origins of life (Business Insider)
Scientists just found something in space that could explain how the molecules that gave rise to life on Earth first formed.
What they spotted is called a chiral molecule, and it's the first one ever found in space.
Life on the Home Planet
Dead Sea drying (BBC)
The Dead Sea, the salty lake located at the lowest point on Earth, is gradually shrinking under the heat of the Middle Eastern sun. For those who live on its shores it's a slow-motion crisis – but finding extra water to sustain the sea will be a huge challenge.
Taking Pangolins Off the Menu (Bloomberg View)
The latest poster mammal in the struggle against environmental crimes is something called a pangolin. Cute and scaly, it is no match for the criminal gangs that have made it one of the most trafficked animals for bogus medicines and gourmet meals.
