US Industrial Production Disappoints In May

Iran Rejects US Proposed Ceasefire, Counters With 5 Conditions For Ending War, As US Troops En Route Summary Iran Does Not Accept Ceasefire, Issues 5 Conditions, Says US Talks Illogical. The statement says that talks are not viable in current conditions, oil rising. 3,000 elite Army Airborne soldiers & Marines still en route after Trump said Monday says Iran has been destroyed "militarily".  Iran is tightening control of Hormuz, demanding detailed ship data and in some cases large fees for passage. Iran continues to say it is ready for long war, monitors US troop movements: Parliament Speaker...

US Treasury Informed Banks It May Intervene In Japan's Yen, As Market Laughs At BOJ's Own Attempts To Prop Up Currency While the BOJ understandably refuses to admit it spent a record $140BN (across all markets, $90BN on EBS) to briefly manipulate the Japanese yen higher... ... ahead of yet another disappointing (non-rate hike) decision (according to some calculations, Japan's central bank is about 100 bps of rate hikes behind to stop the ongoing collapse of the yen), others are less shy.  According to Reuters, similar to the last failed intervention by...

How Long Will Burnham Last? Authored by Mark Littlewood via DailySceptic.org, Over the past decade our political system has chewed through and spat out Prime Ministers at a faster rate than Premier League football teams burn through managers. As Andy Burnham enters 10 Downing Street, why would we think there is any reason he will do much better – in terms of longevity – than his immediate predecessors? I’m keeping my eyes peeled for a bookmaker offering odds on Burnham being removed from office before the next election rather than at...