America At 250: Survey Finds Enduring Patriotism, Growing Anxiety

US Manufacturing Hits 49-Month High As 'Input Costs Show Signs Of Cooling' This morning we found out that Euro-area business activity shrank less than anticipated in June (Services up/beat, Manufacturing down/miss). S&P Global’s Composite PMI rose to 49.5 from 48.5, topping estimates but remaining below the 50 mark that indicates growth. "The eurozone economy is showing enough resilience to just about stay out of recession. " However, the UK’s economy contracted for a second consecutive month (both Services and Manufacturing lower), with its PMI slipping to a 14-month low. "A disappointing June ‘flash’ PMI...

Today Will Or Won't See A US-Iran Meeting In Doha Which Will Be "Perhaps Important, Perhaps Not" By Michael Every of Rabobank Build 'em up or Burnham down? In typical form, today will or won’t see a US-Iran meeting in Doha; which will be ‘perhaps important, perhaps not’; and either discussing the MoU or unfreezing $6bn of Iranian assets. So, the ‘peacefire’ continues, as expected, but with little chance this holds permanently. Likewise in Lebanon, where the US is pushing to disarm Hezbollah --which refuses-- and Israel won’t leave until that happens....