Financial Markets and Economy
Stocks are near all-time highs (Business Insider)
US stock futures are rallying ahead of the opening bell on Monday, putting the S&P 500 within reach of new intra-day and closing highs.
Global stocks rise as markets anticipate stimulus (Reuters)
Shares rose in Europe and Asia on Monday and the safe-haven yen tumbled against the dollar after upbeat U.S. jobs data, though the prospect of more stimulus to counter a weak global growth outlook kept low-risk sovereign bond yields near record lows.
Drifting World Economy Skirts Worst But Still Lags (Bloomberg)
Call it the drift economy. The world somehow manages to stay afloat yet doesn’t go much of anywhere very fast.
Oil falls further under $50 on Asia demand concern (Reuters)
Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs.
Yes, a Six-Figure Income Means You're Affluent (Bloomberg View)
Economists and tax wonks almost universally share the view that benefits from the tax deduction on home mortgage interest flow mostly to the well-off, and do little for the economy at large. It’s one of those rare things that the right-leaning American Enterprise Institute, the sort-of-right-leaning Tax Foundation, the left-leaning Center on Budget and Policy Priorities and the centrist (or sort-of-left-leaning) Urban-Brookings Tax Policy Center all can agree on.
Something crazy is happening to Swiss bonds, and it's a sad sign for the world economy (Business Insider)
Investing in government debt used to be a boring, pretty straightforward proposition. You buy a bond. Then you get back interest payment. So easy, even your great uncle Mort can do it.
Tokyo Welcomes Treasury Investors to ‘World of Japanification’ (Bloomberg)
Japan’s biggest bond bulls, seasoned by two decades of economic stagnation, say the plunge in yields below zero in Tokyo foreshadows record-breaking gains for U.S. Treasuries.
Gold, silver futures waver as stocks flirt with records (Market Watch)
Gold futures were switching between small gains and losses early Monday after the precious metal slipped lower following a stronger-than-expected report on U.S. hiring on Friday.
Brexit Seen Biting Profit for Years at U.S. Banks (Bloomberg)
When U.S. banks post second-quarter results in days, it’ll boil down to this: Bonus cuts are coming for just about everyone this year, says Wall Street recruiter Richard Lipstein. “If you are break-even, it’s an achievement.”
Stocks Buoyed by Japan's Rally (Wall Street Journal)
Stock markets climbed Monday, with Japan’s Nikkei posting its best daily performance in months and the S&P 500 on track to set a record high.
Sterling’s down, sales are falling, shoppers anxious: gloom gathers over the UK economy (The Guardian)
Bank of England governor Mark Carney faces his second test since the EU referendum this week after calming markets with his promise to underpin the banking system with an extra £150bn of backstop funds.
Citigroup Backs Commodities for ‘17 in ‘Especially Bullish’ Call (Bloomberg)
Forget Brexit, go for raw materials. Citigroup Inc. says that it’s bullish on commodities including oil in 2017 as the impact of the U.K.’s vote to quit the European Union fades away, global growth chugs along and with markets rebalancing investors plow more cash into funds.
Oil prices fall on concerns global glut set to worsen (Market Watch)
Crude oil prices fell Monday as market participants fretted over a supply overhang that could worsen as global supply disruptions fade.
With Over $13 Trillion In Negative-Yielding Debt, This Is The Pain A 1% Spike In Rates Would Inflict (Zero Hedge)
Friday's unprecedented surge to all time highs in both stock and treasury prices, has got analysts everywhere scratching their heads: which is causing which, and what happens if there is a violent snapback in yields like for example the infamous bund tantrum of May 2015.
Politics
“A Trump speech is just a story starring Trump”: Science proves The Donald is a textbook narcissist (Salon)
Many people have pointed out that Donald Trump is a narcissist, but what does that actually mean? The late Theodore Millon, one of the co-developers of the Diagnostic and Statistical Manual of Mental Disorders, devised the subtypes of personality disorders and described the attributes of the “unprincipled narcissist” disorder as: deficient conscience; unscrupulous, amoral, disloyal, fraudulent, deceptive, arrogant, exploitive; a con artist and charlatan; dominating, contemptuous, vindictive. These personality attributes shape behavior patterns which, in the unprincipled narcissist, tend toward self-absorbed egotism. Symptoms include an excessive need for admiration, disregard for others’ feelings, an inability to handle criticism, and a sense of entitlement.
Bernie Sanders Will Hit the Campaign Trail With Hillary Clinton (The Atlantic)
Bernie Sanders will join Hillary Clinton on the campaign trail on Tuesday. The former Democratic rivals will make a joint appearance at a New Hampshire rally “to discuss their commitment to building an America that is stronger together and an economy that works for everyone, not just those at the top,” according to the Clinton campaign.
Technology
China's Armed Robot Helicopter Takes Flight (Popular Science)
Armed unmanned aerial systems (more commonly known as "drones" have gained worldwide attention for their use on battlefield that range from Afghanistan to Syria, with China's CH-3 and CH-4 joining the fight in locales like Iraq and Nigeria. But these drones have been built around a winged airplane design, requiring a substantial logistical footprint, including a lengthy runway, to operate from. They also can fly above targets, but can't perch and stare or enter real or urban canyons.
Health and Life Sciences
Thumb-suckers and nail-biters have 'fewer allergies' (BBC)
Children who suck their thumb or bite their nails are less likely to develop allergies, a study suggests.
The explanation, say the authors in the journal Pediatrics, is the hygiene hypothesis – exposure to some germs strengthens the body's immune system.
Your Brain Has A "Delete" Button—Here's How To Use It (Fast Company)
There’s an old saying in neuroscience: neurons that fire together wire together. This means the more you run a neuro-circuit in your brain, the stronger that circuit becomes. This is why, to quote another old saw, practice makes perfect. The more you practice piano, or speaking a language, or juggling, the stronger those circuits get.
Life on the Home Planet
The Extreme-Weather Defense Nobody Wants (Bloomberg View)
After Hurricane Sandy ruined the home in Breezy Point, Queens, that Diane Hellriegel's father built 60 years ago, she decided to rebuild with concrete. "If another Sandy comes," she told me, "it'll be the only house standing."
That might not be much of an exaggeration. Despite endless warnings that climate change will mean more frequent and severe hurricanes, floods and other extreme weather, 94 percent of new single-family homes sold last year in the U.S. were made with wood frames. Even in the South, where the risk from hurricanes is the greatest, just 1 in 10 new homes are built from concrete.
