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• (WAPO) North Korean missile flies over Japan, sharply escalating tensions and eliciting an angry response from Tokyo..

• (FX Street) State Farm, Liberty Mutual and Allstate are the insurers most exposed to losses from Hurricane Harvey.

• (Guardian) Kenyans producing, selling or even using plastic bags will risk imprisonment of up to four years or fines of $40,000 (£31,000) from Monday, as the world’s toughest law aimed at reducing plastic pollution came into effect.

• (FT) The Chinese population in Africa is now in decline as workers return to China because of falling commodity price.

• (FT) The UK generated more electricity from wind turbines than from burning coal last year — a first.

• Trump’s high-level business advisory groups have fallen apart.

• Trump has abandoned plans to create an infrastructure advisory council.

• Japan, the world's third-largest economy expanded by a much stronger-than-expected annualized rate of 4.0% in April-June --  its longest uninterrupted run of growth in a decade,

• (Scientific American) The world can expect 3 to 7% less crop yield for each degree rise in temperature

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Quick Overview and Baltic Exchange Dry Index (BDI) are up to date.

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Quick Overview is up-to-date

QUICK OVERVIEW

Quick Overview and Baltic Exchange Dry Index (BDI) are up to date.

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• World's most populous city Shanghai just registered highest temperature of 40.9C (105 F) in recorded history.

• U.S. Housing starts rose for the first time in four months in June, increasing 8.3% to an annual rate of 1.215 million.

• The euro zone's public deficit dropped in the first quarter of the year to its lowest level in nearly a decade, driven by a widening surplus in Germany.

• China has raised its 2017 annual GDP projection to 6.8% YoY from 6.6 % previously.

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• US and retail sales fell for a second straight month.

• U.S. business inventories rose 0.3% after an unrevised 0.2% decrease in April.

• Sales fell 0.2%, the biggest decline since July 2016, after being unchanged in April.

• U.S. Consumer prices were unchanged in June.

• Chances of a U.S. rate hike in December fell to 47% from 55%.

• All this points to tame inflation and subdued expectations of strong economic growth in the second quarter.

• CAD derived extra support after the Bank of Canada raised its overnight rate target by 25 bp to 0.75%.

• Drill, baby, drill. Baker Hughes says the worldwide rig count for June was 2,041, up 106 from May and up 634 from June 2016