Germany Inks Deal To Buy US Tomahawks, Filling Long-Range Capability Gap

US Adds Only 57K Jobs, Missing Estimates, As Unemployment Rate Slides On Plunge In Workers In our jobs preview post we quoted Goldman Delta One head, Rich Privorotsky, who said that "equities marginally want something weaker than consensus: with no forward guidance, hot NFP means hikes in play, which is unfriendly for pockets of equity risk." Well, they got it because moments ago the BLS reported that in June the US added just 57K workers, half the 113K expected, and the worst monthly print since the big February drop.  Except for...

Zelensky's Cabinet Reshuffle Backfiring As He Names New Defense Minister Amid a continuing status of martial law in Ukraine, one European headline underscores that President Zelensky's significant cabinet and defense ministry reshuffling has 'backfired'. Public outrage and rare protests have ensued in the capital and across various cities after he sacked popular Defense Minister Mykhailo Fedorov, who many Ukrainians see as having turned the tide of the war with Russia, implementing an ambitious tech-focused drone strategy. Zelensky has now confirmed the dismissal by appointing Security Service of Ukraine (SBU) chief Yevhen Khmara...

If prices are instrumental in providing needed information to market participants, then inflation can be seen as introducing static into the system, creating more uncertainty and leading to bad choices.