A.M. Notes

Research evidence excerpt

A.M. Notes

on consumer confidence (10:00 am) will likely show

attitudes improving somewhat in June. That comes amid lower gas prices, strong equity

markets and sturdy job growth. While that all sounds rosy, American households are

still highly bothered by inflation, both past and current.

We’ll also get the JOLTS report (10:00 am) for May; and the Chicago PMI (9:45 am) for

June.

From the headlines…

U.S.declarationtoexitUSMCAtostartadecade-longcountdownforthepact:U.S.

PresidentDonaldTrump'sadministrationisexpectedtoformallydeclareonWednesday

thatitwillnotextendtheU.S.-Mexico-CanadaAgreementontrade,startingadecade-

longclocktowinddownthe32-year-oldNorthAmericanfreetradezoneasthethree

countrieshaggleoverproposedchanges.Thatdeclarationwillkickoffasix-yearreview

session,partofa"sunsetclause"negotiatedbyPresidentDonaldTrump'sfirst

administration.However,itwilldolittletoaltercontentiousnegotiationsoverthe

pact'sfuture,includingsweepingdemandstoboostU.S.andregionalcontentinNorth

AmericanautomotiveproductionandtradeprotectionstoblockChinesegoodsfrom

benefitingfromUSMCA.Reuters

TheU.S.dairyindustrywantsmoreaccesstotheCanadianmarket.Here’swhy:

Canada’ssupplymanagementsystemfordairyisaflashpointinthecontentiousfree

tradeagreementbetweenCanada,theU.S.andMexico,withWashingtonconsistently

demandingmoreaccesstowhatitconsidersanunfairlyprotectedCanadianmarket.

GlobeandMail

SupremeCourtBlocksTrumpFromFiringFedGovernorLisaCook:TheSupremeCourton

MondayrejectedPresidentTrump’sbidtofireFederalReservegovernorLisaCook

withoutmeaningfullegalscrutiny,reaffirmingthecentralbank’slongstanding

insulationfrompresidentialcontrol.WSJ

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07:44 ET | 07:44 ET