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The Monday Mix: June 29 – July 5, 2020

Headlines discussed at LNWM’s Monday morning briefing:

US unemployment is expected to remain around 11%, even after an estimated 2.4 to 3.9 million workers were rehired in June.

A key US manufacturing index jumped to 52.6 in June, indicating expansion,  after readings in the low 40s in April and May.

Demand for new US mortgages fell slightly for the 2nd straight week, signaling a potential peak in the housing recovery.

Fitch has downgraded the credit ratings of 33 governments in the 1st half of 2020 and placed 40 more on negative outlook, as debt level rise.

Several large US states, including Florida and Texas, curtailed reopening plans on rising infection rates of Covid-19, even though death rates so far are on a downward trend.

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