Tuesday, June 27, 2017

TUESDAY 6/27/17; ECB President Draghi Speaks; BOE Governor Carney Speaks; US Yield Curve Flattening with 2-10 Spread at 78 Bips and 5-30 at 93 Bips; Federal Reserve Speak Including Chair Yellen; DRI; Case-Shiller HPI (House Price Index); Consumer Confidence; Richmond Fed Mfg Index; 5-Year Note Auction; Euro Above 1.13; Euro/Yen Above 127; Pound Above 1.28; AVAV; KBH; Petya Ransomware Attack

Brazil President Temer is charged with corruption. It seems that everyone involved in politics and business is corrupt in Brazil, like Mexico. Temer replaced Dilma Rousseff one year ago after her impeachment. Temer is accused of taking multi-million dollar bribes. Brazil remains mired in political turmoil. Court proceedings will begin against Temer if the congress decides to pursue the matter with a majority vote.

[Purchase the 2017-06 chronology to enjoy June's economic and market real-time history including new all-time highs in the stock market.]

Many companies were pressured into raising their minimum wage so businesses are hiring fewer employees and those workers that keep their jobs are experiencing cuts to hours and ending up with less money in the paycheck. The economists sitting in leather chairs in the Ivory Tower, resting elbows on mahogany desks, are clueless as to how one-half of America lives and works each day.

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