Americas   While US Economic Data showed slowing but positive Q2 growth at a projected +1.5% annualized. Payrolls surprised to the upside at +224,000 versus the +160,000 projected by the economist survey.  Official unemployment was rounded up to the very low 3.7% and underemployment also ticked up (from 7.1% to…

Odd Thing Happened   on the way to an oil crisis… nobody came! Events a few years ago that would have sent the markets soaring or collapsing are absorbed and taken in stride.  A proto-shooting war between a superpower and regional belligerent that included oil tanker sabotage and seizures, heightened…

During the month of June, the top 3 performing sectors were: Metals (7.35%), Indices (7.32%) and the S&P GSCI – Goldman Sachs Commodity Index (4.43%). With a weaker U.S. dollar, gold led the way in a nice rally with other precious metals. US indices rose as the fed took a less…

Americas   US Economic Data demonstrated slowing, though still positive activity. Q1 2019 GDP was revised slightly lower to +3.1% annualized growth (still excellent) while the Atlanta Fed projected Q2 at +1.4% annualized.  Payrolls notably slowed in May, up +75,000 and -75,000 removed from the previous two months.  Official unemployment…