Macro Briefing - August 2, 2019

China vows to respond to Trump’s new trade tariffs: CNBC
US pulls out of Cold War-era nuclear treaty with Russia: BBC
Japan expands trade restrictions on South Korea: NY Times
Eurozone retail spending rebounded in June: Reuters
Global mfg activity contracted for third month in July: IHS Markit
ISM Mfg Index for US fell to 51.2, lowest print since Aug 2016: CNBC
US Mfg PMI in July dropped to lowest level since Sep 2009: IHS Markit
Construction spending in US fell 1.3% in June vs. year-earlier level: HW
US jobless claims rose moderately last week, but labor mkt still tight: CNBC
US job cuts slowed in July, falling 7.5% vs. previous month: CG&C

Today’s July US private employment data set to hold at +1.7% annual rate:

Disclosure: None.

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