Notes Today: 

• Single-family housing in the U.S. has been exuberant, but it’s vulnerable and the bubble is starting to leak. 

• FT: Free movement has now come to an end for those of us from the UK. (Brexit consequences) 

• In May, the CPI rose 0.6 % (seasonally adjusted), rising 5.0 % over the last 12 months (not seasonally adjusted). The index for all items less food and energy increased 0.7 % in May (SA); up 3.8 % over the year (NSA). 

• 
  254 mass shootings in the US so far this year. 

• Biogen’s decision to price its Alzheimer’s treatment (results uncertain) at $56,000-a-year has reignited the debate over the cost of drugs. 

• A new Nevada law will outlaw about 40% of the grass in the Las Vegas area in an effort to conserve water amid a drought that is drying up the region’s primary water source.