Economy

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Moody's Investors Service issued it's latest report on China saying the country's faster pace of change in the economy' structure is credit positive and derisking is progressing in some areas, with some advances in structural change; policy trade-offs are arising.

Italy is to pass a flat tax for companies next year the new government announced Monday. Flat taxes will be introduced for familes also but there are conflicting reports on when.

May auto sales are stronger than expected with Ford sales up 0.50% and Fiat Chrysler up 11%. Recall General Motors $GM only report quarterly now. Car sales give us insight to consumer trends.

U.S. May non farm payrolls were higher at 223,000 then the expected 190,000, following April when NFP added only 164,000 jobs. We are still digesting the robust February gain of 313,0000 jobs, the most since July 2016. Fed rates have doubt after hourly earnings.

Australia's annual BRW rich list is out and not surprising property is the main source of wealth creation in Australia at this time. Carboard and recycling magnate Anthony Pratt is Australia's wealthiest but property was the source of 51 of the top 200 rich list.

The ever growing Chinese debt is the greatest risk to Australia the Reserve Bank of Australia Governor said, as the two countries economies become more entwined more industries are at risk. China is now Australi'as largest trading partner.

U.S. Treasury Secretary Steven Mnuchin said on T.V. Sunday that the U.S. and China have put the trade war between the two “on hold” after both nations agreed to drop their tariff threats while formulating a wider trade agreement.

The irony of oil prices at their highest level in over three years are sending Russia so much cash that they have their first budget surpuls since 2011 but the country is deeper in debt. Their program of foreign currency purchases by the Finance Ministry means borrowing more rubles.

The drums of war  are loud in the Middle East with Iran, Syria and Yemen  all vulnerable or in conflict. With the historic meeting between North Korea and the US to confirm the ending of nuclear weapons in the zone, what is Freedom and who are the most free?

U.S. April non farm payrolls were lower than expected at 164,000, following March when NFP added only 103,000 jobs, which followed the robust February gain of 313,0000 jobs, the most since July 2016. Fed rates have doubt after hourly earnings.

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