Headlines discussed at LNWM’s Monday morning briefing:

— US hiring bounced back strongly in June, with 287,000 new jobs created vs. 175,000 expected.
— Three UK real-estate funds halted withdrawals after the Brexit vote sparked large redemptions.
— US interest rate increases are on hold until “Brexit” uncertainty eases, the Fed indicated.
— Italy and the EU are discussing how to recapitalize Italian banks given $399 billion in soured loans.
— The S&P 500 briefly set a new record high, while 10-year Treasury yields hit record low (< 1.4%).

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