Europe

In what should be a relatively quiet, mid-summer week if only on the global economic schedule even as domestic and global political tensions continue to set the general risk tone on any given day, the focus over the next few days will be on US retail sales on Tuesday and Industria Production on Thursday, as well as on monetary meeting minutes from the Fed and the ECB. Here, focus is on the inflation outlook and discussion of transitory vs persistent factors.

• Korea tensions ease slightly as U.S. officials play down war risks (Reuters)
• Pence Plays Down Trump Threat on Venezuela (WSJ)
• Trump Pressed to Reject White Nationalist Groups (WSJ)
• White House Says Trump Abhors Neo-Nazis (BBG)
• Charlottesville, and the World, Take Stock of Violent Episode (NYT)
• Car Attack Suspect Had Shown Troubling Behavior (NYT)
• U.S. Default? Unlikely, But Bond Traders Are Taking No Chances (BBG)
• Voters sense betrayal in Britain's Brexit heartlands (Reuters)

Today at 3pm, President Trump will sign a memo addressing “China’s laws, policies, practices, and actions related to intellectual property, innovation, and technology” effectively launching the first shot in what many predict will blossom into an all-out trade war with China. As discussed over the weekend, administration officials said Saturday that memo will direct U.S. Trade Representative Robert Lighthizer to consider investigating China over its IP policies, especially the practice of forcing U.S. companies operating in China to transfer technological know-how.

Authored by Peter Korzun via The Strategic Culture Foundation,

The former Soviet republic of Moldova may actually become yet another foothold for the US military in Europe. The US Naval Facilities Engineering Command Europe Africa Southwest Asia (NAVFAC EURAFSWA) plans to construct eight training facilities for military operations in urban terrain at the Bulboaca training base in Moldova. The fact that the US Navy Department is involved makes believe the facility will host American Marines.

Authored by Soren Kern via The Gatestone Institute,