Financial Markets and Economy
Markets are shrugging off the blowout jobs report as if it means nothing for the Fed (Business Insider)
The blowout jobs report for June may not be good enough for the Federal Reserve to change its outlook, judging from some of the initial market reaction.
Bond Markets Are Signaling a Fed on Permanent Hold, Fleming Says (Bloomberg)
Global bond markets in negative or record-low-yield territory signal slow growth that means the U.S. Federal Reserve probably missed its window to raise interest rates, according to former Morgan Stanley wealth-management head Greg Fleming.
A little-known hedge fund is quietly killing it (Business Insider)
An emerging-markets hedge fund run by Man Group's Numeric Investors has had a stellar start to the year.
Election 2016 Is Propelled by the American Economy’s Failed Promises (Wall Street Journal)
When U.S. economic leaders in April 2000 gathered in the White House to mark a decadelong expansion, the consensus was clear. Trade, technology and a wise central bank had helped fuel an era of rising prosperity.
S&P 500 at Record's Door as Rally With Bonds Rewrites History (Bloomberg)
That U.S. stocks were able to erase their Brexit trauma and pull within inches of a record Friday was impressive enough. That they did it on a day bonds yields were flirting with all-time lows was unprecedented.
Deutsche Bank Sees Brexit Hit Amid Investment Bank Rebuild (Bloomberg)
Britain’s decision to leave the European Union will probably curtail finance industry revenue, including in investment banking, as companies worried about the economic aftermath are likely to hold off takeovers and share sales, according to Deutsche Bank AG.
US Bank makes P2P free (Business Insider)
US Bank, the fifth largest commercial bank in the US, eliminated fees associated with digital real-time peer-to-peer (P2P) transfers, likely as part of a move to make the platform more attractive to consumers.
WTO's new trade index suggests sluggish third quarter world trade growth (Business Insider)
The World Trade Organization on Friday forecast sluggish trade growth in the third quarter of 2016 as it published a quarterly trade barometer for the first time.
Why Banks Aren’t Giving You a 3%, 30-Year Mortgage…Yet (Wall Street Journal)
Government bond yields have plummeted this week, but mortgage rates haven’t fallen so fast.
Wild Gyrations Mask a U.S. Job Market That's Solid, Yet Cooling (Bloomberg)
The job market in the U.S. doesnt turn on a dime for no apparent reason, only the data do.
New Cars Are Too Expensive for the Typical Family, Study Finds (NY Times)
AS prices for new vehicles continue to rise, the cost of an average new car may be a stretch for typical households.
Shares of job growth aren’t the best metric of labor market health for less-educated workers. (Medium)
There’s little doubt that workers with only a high school diploma?—?or less?—?have it tough in the American labor market. Their unemployment rates are higher than those for workers with even just some college, and their wages are lower.
The Gun-Manufacturing Boom (Bloomberg View)
On Jobs Day every month, I write a brief column looking at some long-run trend in the data that gets ignored in the excitement over whether nonfarm payroll employment gains beat the consensus or not (and wow, did they in June).
Apple’s stock might not recover until 2017 (Market Watch)
Apple Inc. investors have suffered through a 21% decline in shares over the last year, and they might not get a reprieve until at least the end of 2016.
On Friday, Raymond James analyst Tavis McCourt became the latest on Wall Street to lower earnings estimates on Apple ahead of its quarterly earnings report later this month.
How Active & Passive REIT ETFs Differ (ETF)
REITs are a hot investment this year, thanks in part to their strong performance and solid dividend yields. These traits are appealing in an environment where investors are faced with low rates and dropping bond yields everywhere else.
SP 500 and NDX Futures Daily Charts – The Best of All Wall Street Worlds (Jesse's Cafe Americain)
The thunderstorms are booming outside, and I hope this breaks the heat which has been oppressive all day. Whoops, we just lost power. Luckily I have my PC and internet access routers/modem all on UPS.
Politics
Russia Has the Most Boring Election of 2016 (Bloomberg View)
The thrilling spectacles offered by the U.S. presidential election, the U.K. referendum on leaving the European Union and even Austria's cliffhanger presidential vote have overshadowed an election campaign in Russia, which will get a new parliament on Sept. 18. That's because, even though they have all the the trappings of democracy, the Russian elections are mostly theater, whose actors are shadows from the country's brief experiment with competitive politics.
Technology
When Police Use Robots to Kill People (Bloomberg)
The police shooting in Dallas on Thursday marks a milestone in the history of American law enforcement: This is the first time a police department used a robot to kill someone, experts say. On Friday morning, the city’s police chief, David Brown, said officers used a robot to set off an explosive, killing a suspect in the shooting deaths of five police officers after failing to persuade him to surrender.
Robots are set to take the jobs of millions of Asian workers in the coming years (Quartz)
In the next few decades, about 56% of all salaried workers in Cambodia, Indonesia, the Philippines, Thailand, and Vietnam could be displaced by automation and advanced technologies, such as 3D printing. That’s the conclusion of an extensive series of new studies by the International Labour Organization (ILO).
Health and Life Sciences
New Sunscreen "Sticks" to the Skin (Scientific American)
Under intense summer rays sunscreen can help protect against a wicked burn, but some of the common active ingredients in these sprays and lotions can also seep through the skin and enter the bloodstream. Although it is unclear whether this poses any risks, Yale University dermatologist Michael Girardi thinks it is worthwhile to develop alternatives.
The unknown effect of the pill on teenage bones and brains (New Scientist)
Teenage pregnancies have hit record lows in the Western world, largely thanks to increased use of contraceptives of all kinds. But strangely, we don’t really know what hormonal contraceptives – pills, patches and injections that contain synthetic sex hormones – are doing to the developing bodies and brains of teenage girls.
Life on the Home Planet
Hawaii's Kilauea Volcano Continues Its Beautiful Flow (Popular Science)
The Hawaiian volcano Kilauea has been erupting continuously since 1983, gently spewing molten rock out onto the surface of the Earth.
Watch London Get Its Shiny New Crossrail Tunnels Ready for Action (Wired)
After eight years of plowing its way under one of the oldest cities in the western world, London’s Crossrail underground system is nearly ready to meet the public.
Workers have dug 26 miles of 20-foot-wide tunnels. They dodged centuries of history, including a mass grave of plague victims.
