In April, the Fed's otherwise boring Beige Book revealed a striking anecdote about the current state of the US labor market: as the Boston Fed commented at the time, the qualified labor shortage had gotten so bad, that the hit rate on hiring after a simple math and drug test, has collapsed below 50%. To wit:
As many traders quietly leave for summer break soaking up even more liquidity as they go, a busy US calendar unfolds in the week ahead, with ISM, PCE price data and, of course, payrolls in the spotlight.
Key Events, courtesy of RanSquawk
Bitcoin Fork, Hyped ICOs – Immutable Gold and Silver
Two days after President Donald Trump tweeted he was "very disappointed" in China
following Pyongyang's latest missile test adding that "we will no longer allow this to continue", Beijing has hit back at Trump on Monday, saying the problem did not
arise in China and that all sides need to work for a solution, according to a statement sent to Reuters by China's Foreign Ministry.
Washington Pushes Harder Against Russia
Paul Craig Roberts
Some historians believe that the cause of WW2 was UK prime minister Chamberlain’s appeasement of Hitler’s recovery of German territory given to other countries via the Versailles Treaty in contravention of US President Woodrow Wilson’s promise to Germany that there would be no reparations and no loss of territory if Germany agreed to an armistance ending WW1.