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•  (Economist) Geopolitics and technology threaten America’s financial dominance 

•  Chinese researchers warn of a new flu virus found in pigs that has become more infectious to humans and needs to be watched closely in case it becomes a potential pandemic risk 

•  (FT) BP will slash up to $17.5b off value of its assets after lowering its longer-term energy price assumptions in wake of pandemic, which it expects to hasten shift away from fossil fuels" Shell will take a hit of up to $22bn after lowering its outlook on oil and gas. The energy firm expects fuel sales to slump 40% in the second quarter as a result of global travel restrictions…

•  (Economist) Why zero interest rates might lead to currency volatility There is little scope for them to adjust to economic trouble. So something else must 

•  Japans factory output fell 8.4% MoM in May to 79.1, a level not seen since March 2009 when the financial crisis shattered global demand. 

•  Along with others…UGLD the 3x leveraged Gold ETF (GLD) is being delisted 7/12/20 

•  Tesla’s market cap (201 billion) has surpassed Exxon Mobil’s (185 billion).. 

• Texas now has more daily coronavirus cases than Italy when it was a global epicenter of the pandemic. 

•  An early experimental Covid vaccine trial by Pfizer and BioNTech displays promise - pushing NSDAQ to new highs... 

•  The pandemic situation in Brazil is a bit unclear since the gov isn't releasing data. It is probably higher than the 1,426,913 as of 7/1/2020 

•  What is a kakistocracy? it’s a system of government that is run by the worst, least qualified, and/or most unscrupulous citizens." (Wiki)

Quick Overview is up to date

Otherwise still working on updates...

• The NYT tracks corona virus vaccines progress here 

• 2-week average change in new covid-19 cases:

         Florida up 215.6%

         Texas up 144.4

         Arizona up130.8

• The FL former leading Covid-19 data scientist accused the FL administration of “cooking the books” in an effort to hide the true impact of the devastating pandemic. 

• (Bloomberg)In April, the U.S. personal savings rate -- the percentage of disposable income that households manage to sock away -- jumped to 32.2%. Before Covid-19 in records that date to 1959, that number had never exceeded 17.3%, and had cleared 10% only once since 1995. Fresh monthly data from the Commerce Department Friday showed the savings rate subsided to the still-lofty level of 23.2% in May. 

• MoM US existing home sales drop 9.7% in May.          
• YoY sales are down 26.6%.
• (CNBC) As of Tuesday 4.68 million homeowners (8.8% of all active mortgages) were in forbearance plans, allowing them to delay their mortgage payments for at least three months. 

• The IMF said it now expects global GDP to shrink 4.9% this year, up from the 3% predicted in April. 

• Carnival Cruise lines moved its reopening from Aug. 1 to Sep. 30…Carnival is the latest cruise line to lose its investment-grade credit ratings.. 

• The Walt Disney Company is further delaying the reopening of Disneyland past July 17 - New date for reopening is TBD. 

• Reuters said that holdings in SPDR Gold Trust (GLD), the largest gold ETF in the world, rose 0.58% to 1,166.04 tons on Monday - a level not seen since April 2013. (UGLD is the 3x leveraged one) 

• St. Louis Federal Reserve President James Bullard said on Tuesday that "The bulk of the economy will return to prior production levels," Bullard further said that the coronavirus pandemic has not turned out as bad as initially feared…

• Austria sold 100-year bonds with a yield of 0.88% (10x oversubscribed) to desperate investors with a secure yield of something anything. With France and Italy having issued 50-year bonds is the US 30-year bond now short term? 

• (Bloomberg) Euro-area inflation could dip below zero Isabel Schnabel said. 

• China does not have enough Covid patients at home, so it is resorting to outsourcing its phase 3 clinical vaccination trials to the UAE. 

• "Unilever said it will halt U.S. advertising on Facebook for at least the remainder of the year, citing hate speech and divisive content on the platforms"
• And Coca-Cola is pausing all ads on social networks for 30 days to reassess their media plan.
• And PG is undertaking a review to make sure its commercials don’t appear near offensive content.
• And Honda, and Hershey’s, and Verizon and REI and Patagonia……………and several smaller brands said they will join the boycott.
• FB lost 8.3% or $56 billion - so far..