Economic & Market Watch

In the News

Economy

• The Conference Board’s Leading Economic Index declined 0.2% in June, reversing part of the gains recorded in April and May as weaker consumer expectations and a decline in building permits outweighed continued support from financial market indicators.
• Treasury yields edged higher Monday morning as Wall Street monitored the latest developments in the Middle East. The 10-year yield—the key benchmark for U.S. government borrowing—increased more than 2 basis points.

Markets

• West Texas Intermediate crude oil futures traded just above $82/barrel, after briefly topping $85, as signs of renewed diplomatic efforts between the U.S. and Iran eased some supply concerns, though geopolitical risks continue to keep energy markets volatile.
• U.S. stock futures advanced to start the week as expectations for a busy slate of second-quarter earnings reports from major technology companies, including Alphabet, Tesla and Intel, improved investor sentiment.

Current Events

• Yemen’s Houthis announced plans to impose a maritime blockade on Saudi Arabia as a response to the kingdom’s alleged siege on Yemen’s capital. The move threatens a key export route through the Red Sea, which Saudi Arabia uses to ship the majority of its crude oil exports and millions of barrels of oil each day.
• Iran said mediators have proposed a 10-day ceasefire with the U.S. to create time for reviving nuclear negotiations, though tensions remain elevated as the two countries continue to dispute shipping security in the Strait of Hormuz.

Meet the Team

CFC's economic research team—John Suter, Sam Kem and Antony Davies—share their expert, yet easily digestible, perspective on what you need to know.

Have feedback about the podcast? A topic you'd like the EMW team to cover? Get in touch at economicresearch@nrucfc.coop.

Source: U.S. Energy Information Administration, Trading Economics