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So far this year, technology stocks are leading the US market, with a notable competition for second place between communication and consumer discretionary sectors, as indicated by various exchange-traded funds up to July 14.
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<p>Moderna's first Covid-19 vaccine trial has shown promising results: <a href="https://www.nbcnews.com/health/health-news/covid-19-vaccine-moderna-begin-final-human-trial-end-july-n1233788">NBC</a><br/>The CDC director states that widespread mask usage could effectively control the spread of Covid-19: <a href="https://www.statnews.com/2020/07/14/if-everyone-wore-mask-covid19-could-be-controlled-cdc-director-urges/">STAT</a><br/>In response to Trump ending Hong Kong’s special status, China has pledged retaliation: <a href="https://www.reuters.com/article/us-hongkong-security-trump/china-vows-retaliation-after-trump-ends-preferential-status-for-hong-kong-idUSKCN24F2KQ">Reuters</a><br/>Prime Minister Boris Johnson has banned China's Huawei from participating in the UK's 5G network: <a href="https://www.cnn.com/2020/07/14/tech/huawei-uk-ban/index.html">CNN</a><br/>Banks are accumulating cash in preparation for potential loan losses: <a href="https://www.nytimes.com/2020/07/14/business/big-banks-quarterly-results.html">NY Times</a><br/>A significant decline in the global fertility rate could have far-reaching consequences for societies: <a href="https://www.bbc.com/news/health-53409521">BBC</a><br/>The Fed's Brainard warns that the coronavirus still presents considerable economic risks for the US: <a href="https://www.wsj.com/articles/feds-brainard-sees-substantial-economic-risks-and-slow-recovery-11594749590">WSJ</a><br/>Fed's Kaplan anticipates a pickup in US growth in 2021: <a href="https://www.cnbc.com/2020/07/14/feds-kaplan-says-the-us-economy-will-see-above-trend-growth-in-2021.html">CNBC</a><br/>Apple achieved a significant legal victory regarding taxes in the EU: <a href="https://www.wsj.com/articles/apple-wins-major-tax-battle-against-eu-11594804634?mod=hp_lead_pos1">WSJ</a><br/>Headline consumer price inflation in the US rose by 0.6% in June, marking the first increase in four months: <a href="https://www.marketwatch.com/story/higher-gas-prices-trigger-first-increase-in-consumer-inflation-in-four-months-2020-07-14">MW</a><br/>Small business optimism in the US showed a sharp rebound in June: <a href="https://www.nfib.com/surveys/small-business-economic-trends/">NFIB</a></p>
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The bond market, once regarded as a bastion of rational analysis and reliable economic indicators, seems to have lost its way. A review of the recent signals from the US Treasury market suggests a shift, with mixed messages complicating the landscape.
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<p>Various US states are implementing new restrictions as the outbreak of coronavirus cases continues: <a href="https://www.wsj.com/articles/coronavirus-latest-updates-071420-11594716924?mod=hp_lead_pos1">WSJ</a><br/>As Covid-19 cases spike, California is reversing its economic reopening: <a href="https://www.cnbc.com/2020/07/13/california-to-close-indoor-restaurants-movie-theaters-and-bars-statewide-as-coronavirus-cases-rise.html">CNBC</a><br/>A study in the UK suggests immunity to Covid-19 may only last a few months: <a href="https://www.cnbc.com/2020/07/14/immunity-to-covid-19-uk-study.html">CNBC</a><br/>The US and Canada are likely to extend the ban on non-essential travel: <a href="https://www.reuters.com/article/us-health-coronavirus-usa-canada/canada-and-u-s-likely-to-extend-ban-on-non-essential-travel-ban-sources-idUSKCN24E2A9">Reuters</a><br/>The US declared parts of China's South Sea claims as unlawful: <a href="https://www.bbc.com/news/world-us-canada-53397673">BBC</a><br/>For the first time since the onset of the coronavirus crisis, China's imports increased in June: <a href="https://www.reuters.com/article/us-china-economy-trade/china-posts-first-import-growth-since-pandemic-exports-also-up-idUSKCN24F0C1">Reuters</a><br/>The UK economy rebounded, but at a slower rate than anticipated in May: <a href="https://www.bbc.com/news/business-53400721">BBC</a><br/>The Eurozone reported a remarkable rebound in industrial output during May: <a href="https://www.marketwatch.com/story/eurozone-industry-has-record-rebound-11594717955">MW</a><br/>The US budget deficit expanded to a record $864 billion: <a href="https://www.nytimes.com/2020/07/13/us/politics/budget-deficit-coronavirus.html?action=click&module=Top%20Stories&pgtype=Homepage">NY Times</a></p>
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During the week ending July 10, emerging market equities recorded the highest gains among major asset classes, according to a range of US-listed exchange-traded funds.
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<p>The White House is working to undermine Dr. Fauci's credibility concerning the US response to Covid-19: <a href="https://www.nbcnews.com/politics/white-house/white-house-seeks-discredit-fauci-amid-coronavirus-surge-n1233612">NBC</a><br/>Contrary to expectations, summer does not seem to be reducing the rate of Covid-19 transmission: <a href="https://www.wsj.com/articles/scientists-hoped-summer-temperatures-would-tamp-down-covid-19-cases-what-happened-11594632601?mod=hp_lead_pos5">WSJ</a><br/>The US has cautioned its citizens against “heightened risk of arbitrary detention” in China: <a href="https://www.cnbc.com/2020/07/13/the-us-warns-citizens-of-arbitrary-detention-in-china.html">CNBC</a><br/>In retaliation for Uighur policies, China has announced sanctions against US officials: <a href="https://www.reuters.com/article/us-china-usa-xinjiang/china-trades-sanctions-with-u-s-over-uighur-muslims-idUSKCN24E0NU">Reuters</a><br/>Poland's conservative President Duda has narrowly secured reelection: <a href="https://www.bbc.com/news/world-europe-53385021">BBC</a><br/>Bankruptcies in the US continue due to the ongoing impact of Covid-19: <a href="https://www.bloomberg.com/graphics/2020-us-bankruptcies-coronavirus/?srnd=premium">Bloomberg</a><br/>The producer price index unexpectedly declined in June: <a href="https://www.cnbc.com/2020/07/10/producer-price-index-june-2020.html">CNBC</a><br/>The US stock market, particularly the S&P 500, has started the trading week with a drawdown nearing 6%:</p>
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<p><a href="https://www.amazon.com/gp/product/B083J18WQ7/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=B083J18WQ7&linkCode=as2&tag=thecapitalspe-20&linkId=cab9289f6c7315615877939641b1b72d" target="_blank" rel="noopener noreferrer"><img decoding="async" class="alignleft" src="https://ws-na.amazon-adsystem.com/widgets/q?_encoding=UTF8&MarketPlace=US&ASIN=B083J18WQ7&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL250_&tag=thecapitalspe-20" border="0"/></a><img loading="lazy" decoding="async" style="border: none !important; margin: 0px !important;" src="https://ir-na.amazon-adsystem.com/e/ir?t=thecapitalspe-20&l=am2&o=1&a=B083J18WQ7" alt="" width="1" height="1" border="0"/>● <a href="https://www.amazon.com/gp/product/B083J18WQ7/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=B083J18WQ7&linkCode=as2&tag=thecapitalspe-20&linkId=cbae452494b0715441fda9c23851b41d" target="_blank" rel="noopener noreferrer">The Rules of Contagion: Why Things Spread–And Why They Stop</a><img loading="lazy" decoding="async" style="border: none !important; margin: 0px !important;" src="https://ir-na.amazon-adsystem.com/e/ir?t=thecapitalspe-20&l=am2&o=1&a=B083J18WQ7" alt="" width="1" height="1" border="0"/><br/>Adam Kucharski<br/><strong><a href="https://www.wired.com/story/a-mathematicians-guide-to-how-contagion-spreads/">Review</a> via Wired</strong><br/>Kucharski, an epidemiologist at the London School of Hygiene and Tropical Medicine, is a mathematician by training. He utilizes data and models to forecast how disease outbreaks progress. His new book, *The Rules of Contagion: Why Things Spread—and Why They Stop*, elucidates those tools and their applications in various aspects of life. He discusses methods to predict how panic might permeate through the global financial system or how misinformation spreads on social media platforms such as Facebook. Kucharski emphasizes the importance of “epidemiological thinking,” a framework for addressing incomplete information—something researchers often encounter when dealing with new, rapidly evolving pathogens. He asserts that in crises, even a rough hypothesis can spur necessary actions.</p>
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