GOLDMAN TO MATCH TRUMP ACCOUNT CONTRIBUTIONS Goldman Sachs will contribute $1,000 to eligible employees' children enrolled in the new Trump Accounts program, matching the federal government's $1,000 seed contribution. The tax-deferred investment accounts launch on July 4 and are available to children born between 2025 and 2028. *Walter Bloomberg (@DeItaone) / Twitter · 07-03 00:44
IRAN HOLDS FIRM ON HORMUZ TOLLS The U.S. has offered Iran access to frozen funds in exchange for dropping its demand to charge ships transiting the Strait of Hormuz, but Tehran has refused. Iran continues to insist on controlling traffic and collecting transit fees, while Oman is proposing a voluntary maritime fund as negotiations over the key shipping route continue. *Walter Bloomberg (@DeItaone) / Twitter · 07-03 00:43
EUROPE SEES HORMUZ FEES AS LIKELY Some European governments now believe transit fees for ships using the Strait of Hormuz may be unavoidable following the U.S.-Iran ceasefire. While the U.S. and Gulf states continue to oppose any charges, European officials are pushing for non-discriminatory rules and an international maritime coalition to safeguard shipping through the vital energy route. *Walter Bloomberg (@DeItaone) / Twitter · 07-02 23:31
TOP NATO MILITARY COMMANDER TO REUTERS: EUROPEAN ALLIES HAVE LARGELY FILLED THE GAPS LEFT BY U.S. REDUCTIONS TO THE NATO FORCE MODEL *Walter Bloomberg (@DeItaone) / Twitter · 07-02 23:29
U.S. MAY FACTORY ORDERS -1.3% (CONSENSUS -1.8%) VS APRIL +5.3% (PREV +4.8%) *Walter Bloomberg (@DeItaone) / Twitter · 07-02 23:00
DALY: HOUSING INFLATION HAS BEEN COMING DOWN IN U.S. *Walter Bloomberg (@DeItaone) / Twitter · 07-02 21:37
US LABOR JUN NONFARM PAYROLLS +57K; CONSENSUS +115K US JUN UNEMPLOYMENT RATE 4.2%; CONSENSUS 4.3% US JUN AVERAGE HOURLY EARNINGS +0.35%, OR +$0.13 TO $37.64; OVER YEAR +3.52% US JUN PRIVATE SECTOR PAYROLLS +49K AND GOVERNMENT PAYROLLS +8K US JUN AVERAGE WORKWEEK UNCHANGED AT 34.3 HOURS US JUN LABOR-FORCE PARTICIPATION RATE 61.5% US MAY PAYROLLS REVISED TO +129K; APR REVISED TO +148K US MAY UNEMPLOYMENT UNREVISED AT 4.3% *Walter Bloomberg (@DeItaone) / Twitter · 07-02 21:32
US JOBLESS CLAIMS -1K TO 215K IN JUN-27 WK; SURVEY 220K US JUN-20 WEEK CONTINUING CLAIMS +2K TO 1,814,000 US JUN-20 WEEK JOBLESS CLAIMS REVISED TO 216K *Walter Bloomberg (@DeItaone) / Twitter · 07-02 21:31
U.S. JOBS GROWTH MISSES, UNEMPLOYMENT FALLS U.S. nonfarm payrolls rose just 57,000 in June, well below the 110,000 forecast, while private payrolls increased 49,000. The unemployment rate unexpectedly fell to 4.2% from an expected 4.3%. Average hourly earnings matched forecasts, rising 0.3% m/m and 3.5% y/y, while labor force participation slipped to 61.5%. *Walter Bloomberg (@DeItaone) / Twitter · 07-02 21:30
U.S. JUNE NONFARM PAYROLLS +57,000 (CONSENSUS +110,000) *Walter Bloomberg (@DeItaone) / Twitter · 07-02 21:30
TRUMP: U.S. PAYS TOO MUCH FOR NATO President Trump said the U.S. spends far more on NATO than any other member while receiving little in return. He cited $999 billion in U.S. defense spending versus $90.5 billion for the U.K., $66.5 billion for France, $48.8 billion for Italy, and $44.3 billion for Poland, calling the imbalance "ridiculous." *Walter Bloomberg (@DeItaone) / Twitter · 07-02 21:03
JUNE JOBS GROWTH SEEN SLOWING Economists expect the U.S. to add a median 115,000 jobs in June (forecast range: 25,000–130,000), down from 172,000 in May. The unemployment rate is expected to hold at 4.3%, while average hourly earnings are forecast to rise 0.3% m/m and 3.5% y/y. NFP forecasts: • Kalshi: 119K • Citi: 25K • TD Securities: 80K • Morgan Stanley: 90K • Wells Fargo: 95K • Barclays: 100K • Daiwa: 105K • Capital Economics: 110K • BofA: 110K • HSBC: 110K • JPMorgan: 125K • Goldman Sachs: 130K *Walter Bloomberg (@DeItaone) / Twitter · 07-02 20:48
TRUMP: UNITED STATES AIRCRAFT JUST STRUCK IRANIAN MISSILE AND DRONE STORAGE LOCATIONS, AND COASTAL RADAR SITES, FOR VIOLATING CEASE FIRE AGREEMENT, AGAIN *Walter Bloomberg (@DeItaone) / Twitter · 06-28 08:34
DALY: HOUSING INFLATION HAS BEEN COMING DOWN IN U.S.
