Published Mon, 10 Jul 2017 03:47:52 -0400 on Seeking Alpha
The G20 discussions dominated the news cycle this past week. The focus of the event was President Trump's meeting with Russian President Vladimir Putin, to discuss, among other things, the alleged Russian meddling in the US elections. Along with Jordan the two countries also announced a ceasefire in Syria the day before with the intention of building toward a broader deescalation agreement later in the year.
A key risk for the markets is the potential rise in tariffs on European steel. The US administration launched a review into steel imports in April which is scheduled to complete shortly. The president has unilateral powers to adjust imports in case of "national security" threats from imports. The EU has recently indicated they are prepared to push back with tariffs of its own against US agricultural products, apparently with the intention to divide the Republican majority.
MacroThe key macro release this week was the June jobs report which showed that the US economy gained 222K jobs in June - more than expected. The unemployment rate ticked up to 4.4% due to a seasonal bump in the participaton rate from the new graduating class and additional summer workers. While labor markets growth looks healthy, wage growth remains stagnant as average hourly earnings rose less than expected.
The main macro theme or we should say puzzle in the markets currently is the combination of the robust labor market along with tepid wage growth and inflation. The Fed... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|PIMCO CALIFORNIA MUNICIPAL INCOME FUND III||10.93||0.0||0.00||0.00||4.45|
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