Wednesday's News Links

[CNBC] S&P 500 slips after unexpected decline in private payrolls data: Live updates

[Yahoo/Bloomberg] Oil Extends Gain With US Stockpiles and OPEC+ Decision in Focus

[AP] House Republicans race toward a final vote on Trump’s tax bill, daring critics to oppose

[Yahoo/Reuters] US private payrolls unexpectedly decrease in June; layoffs remain low

[Yahoo/Bloomberg] ‘Irrational Exuberance’ Stock Gauge Sparks Fresh Bubble Worries

[Reuters] Morning Bid: Markets sit tight for trade progress

[Yahoo/Bloomberg] Trump’s 35% Tariff Threat Feeds Japan’s Worst-Case Scenario Fear

[Yahoo/Bloomberg] Beijing Braces for US Trade Deals That Seek to Shut Out China

[Yahoo/Bloomberg] Traders’ Fear of Missing Out on Stock Gains Outweighs Tariff Concerns

[CNBC] Homeowner’s insurance premiums vary widely from state to state, but they are all going up

[Bloomberg] House Republican Hardliners Warn of a Delay to Tax Vote

[Bloomberg] California Is Running Out of Safe Places to Build Homes Due to Fires, Rising Seas

[Bloomberg] Manhattan Home Sales Surge 17% With Cash Buyers Leading the Way

[WSJ] China Is Quickly Eroding America’s Lead in the Global AI Race

[Bloomberg] Gold Holds Gains as Trump Tax Bill Stokes US Deficit Concerns

[NYT] Despite Pressure From Trump, Powell Remains Patient on Rate Cuts

[NYT] How Immigration Could Muddy the Jobs Numbers

[WSJ] What’s in the Trump Tax Bill Passed by the Senate?

[WSJ] Trump Said Trade Deals Would Come Easy. Japan Is Proving Him Wrong.

[WSJ] Thought Markets Were Volatile Already? Watch Out.

[FT] European junk bond sales hit record as investors cut US exposure

[FT] Sabotage suspected as mystery blasts hit oil tankers

[FT] UK bonds slump on doubts over Reeves’ future after tearful PMQs

Tuesday Evening Links

[CNBC] Dow jumps 400 points, S&P 500 closes flat to start new quarter as investors rotate out of tech

[Axios] Johnson faces new GOP revolt on Trump's "big, beautiful bill"

[Yahoo/Bloomberg] What’s in the Trump Tax Bill That Just Passed the Senate 

[Yahoo/Bloomberg] Trump Sticks With July 9 Tariff Deadline While Hitting Japan

[Yahoo/Reuters] Fed's Powell says dollar swap lines remain important tool

[Reuters] Exclusive: Iran made preparations to mine the Strait of Hormuz, US sources say

[Bloomberg] Volatile Quarter-End Signals Funding-Market Dysfunction to Come

[Bloomberg] Bezos Unloads $737 Million of Amazon Stock in Year’s First Sale

[NYT] Republican Bill Puts Nation on New, More Perilous Fiscal Path

[NYT] Poorest Americans Dealt Biggest Blow Under Senate Republican Tax Package

[WSJ] The Social Security Crisis Is Coming

[WSJ] The Inside Story of Thom Tillis’s Last Stand Against Trump

[FT] Donald Trump threatens to raise tariffs again on Japan

Tuesday Afternoon Links

[CNBC] Dow rallies, S&P 500 is flat as investors rotate out of tech to start new quarter: Live updates

[Yahoo/Bloomberg] Gold Rises With Trump’s Tax Bill Seen Widening US Deficits

[AP] Senate passes Trump’s big tax breaks and spending cuts bill as Vance breaks a 50-50 tie

[Axios] Senate passes Trump's "big, beautiful bill" after 11th-hour panic

[Axios] Trump's megabill: What are the next steps and hurdles after Senate passage

[AP] As Trump ramps up attacks on the Federal Reserve, Chair Powell refuses to change course

[Yahoo/Bloomberg] US Auto Sales Lose Steam After Tariff-Induced Shopping Spree

[Axios] Iran leans on hacktivist proxies in wake of Israeli, U.S. strikes

[WSJ] Powell Cites Solid Economy in Keeping Wait-and-See Stance on Rates

[WSJ] Bank of Japan’s Key Rate Is Below Neutral, Says Gov. Kazuo Ueda

[FT] US Senate passes Donald Trump’s ‘big, beautiful’ tax and spending bill

[FT] Citadel outshone by smaller hedge fund rivals in trade war turmoil

Tuesday's News Links

[CNBC] Stocks slip to kick off second half of 2025, Tesla shares drop: Live updates

[Yahoo/Bloomberg] Treasury Yields Drop to Lowest Level in Two Months Before Powell Speaks

[AP] Senate grinds to a standstill as Republicans struggle with Trump’s big bill

[Reuters] US manufacturing mired in weakness as tariffs bite

[Reuters] US job openings unexpectedly rise in May, hiring falls

[Reuters] Rare earth magnet users jolted into paying premium prices for ex-China supply

[Yahoo/Bloomberg] Homes Are Taking Longer to Sell in US Markets That Once Flourished

[Yahoo/Bloomberg] Japan’s Trade Strategy Tested as Trump Pushes for Quick Deals

[Axios] Trump says DOGE may "go back and eat Elon"

[Yahoo/Reuters] China's factory activity returns to growth in June, Caixin PMI shows

[AP] Iran assesses the damage and lashes out after Israeli and US strikes damage its nuclear sites

[Bloomberg] Bessent Says US Hopes to See China Magnets Flow at ‘Faster Rate’

[Bloomberg] Trump Says He’ll Have to ‘Take a Look’ at Deporting Musk

[Bloomberg] Taiwan Life Insurers Caught in Dilemma With Costly FX Hedges

[Bloomberg] Europe’s Junk Bonds Cap Record Month With €22.5 Billion of Sales

[WSJ] Republicans’ Effort to Pass Megabill Stretches Into a New Day

[WSJ] Republicans Charge Ahead With Megabill’s Fate Uncertain

[WSJ] The Worst Housing Market in America Is Now Florida’s Cape Coral

[WSJ] A Hot New Firm Opened the Private Market to the Little Guy. Now It Is in Big Trouble.

[FT] When the president wants a ‘low rates guy’

[FT] Taiwan’s currency jumps as life insurers rush to hedge against weak US dollar

[FT] EU toughens stance on Donald Trump’s tariffs as deadline looms

[FT] Japan digs in on rice and cars as trade talks with US stall