Headlines discussed at LNMW’s morning briefing:
— The US economy added 850,000 jobs in June, better than expected, with wages up 3.6% annualized.
— 130 nations agreed to support a global minimum tax on corporations; the US is advocating for a 15% rate.
— The US federal budget deficit is expected to be $3 trillion for fiscal 2021 (2nd largest as % of GDP since 1945), but drop to $1.2 trillion in future years.
— US manufacturing expanded for 13th straight month amid strong demand and supply, labor shortages.
— Eurozone countries are offering travelers a digital Covid certificate, indicating resistance to the virus.
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