Headines discussed at LNWM’s Monday morning briefing:

— US short-term interest rates are rising faster than long-term; flattening yield curve cause of concern.
— Emerging market equities are down 8% for the first half of 2018, on stronger dollar, fear of trade wars.
— US economic growth was lowered to 2% for Q1 (down from 2.2%); close to 4% growth expected for Q2.
— US crude oil prices settled above $74/barrel for first time since November 2014.
— Higher oil prices could offset benefit of tax cuts for many Americans, eating into consumer spending.

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