Financial Markets and Economy
Oil Advances as Abu Dhabi Sees $60 Crude on Shrinking Surplus (Bloomberg)
Oil advanced as Abu Dhabi forecast prices could climb as high as $60 a barrel amid a glut that’s dwindling more quickly than projected.
Treasury Auctions Set for the Week of June 6 (NY Times)
The Treasury’s schedule of financing this week includes Monday’s regular weekly auction of new three- and six-month bills and an auction of four-week bills on Tuesday.
Yellen faces fine balance on Fed rate hike after job growth tumbles (Reuters)
Federal Reserve Chair Janet Yellen will likely keep the door open to an interest rate hike within the next few months when she speaks on Monday, while striking a balanced tone about recently disappointing jobs growth and mixed signals in the U.S. economy.
Norway has reportedly reached a deal to ban gas-powered car sales by 2025 (Quartz)
An all-electric future may be closer than you think—at least if you live in Norway. The country’s four leading political parties have reportedly agreed to a plan to stop selling gasoline-powered cars by 2025, according to energy blog Electrek, citing a report in the Norwegian business newspaper Dagens Næringsliv (Norwegian, paywall).
Federal Reserve Plan for Raising Rates Sidetracked by Weak Jobs Data (Wall Street Journal)
The Federal Reserve’s plans for raising short-term interest rates went on hold after Friday’s dismal jobs report, with officials now wanting to wait and see whether the economy remains on track before they make a move.
As U.S. banks exit commodities, an Australian rival takes over (Market Watch)
After the Federal Reserve pledged to crack down on banks engaged in the lucrative business of commodities trading, most big Wall Street firms got out.
Global Yields Fall to Record as U.S. Jobs, Brexit to Hamper Fed (Bloomberg)
Global bond yields tumbled to a record after the U.S. reported a weaker-than-expected May jobs gain and as polls showed more Britons favor leaving the European Union.
The Land Below Zero: Where Negative Interest Rates Are Normal (Bloomberg)
In Copenhagen, bicycles take undisputed priority over cars and even pedestrians. A sizzling restaurant scene has made foodie fetishes of moss, live ants, and sea cucumbers. Despite a minimum wage not far below $20 an hour and some of the world’s steepest taxes, unemployment is almost the lowest in Europe. Parents happily leave infants unattended in strollers on the sidewalk while they stop in to cafes.
Buy these stocks that are breaking out — forget the S&P’s failure to launch (Market Watch)
It’s been discouraging in the past few days for stock bulls, as the S&P 500 struggles to climb to a record high or even stay above 2,100.
China to submit 'negative list' for U.S. investment treaty talks next week (Reuters)
China will submit next week its "negative list" offer of sectors that would remain off-limits to U.S. investment in a U.S.-China bilateral investment treaty (BIT), Vice Premier Wang Yang said on Monday.
Pound Falls, Volatility Jumps as Polls Show Momentum for Brexit (Bloomberg)
The pound dropped to a three-week low after polls showed more Britons favored quitting the European Union, reviving concern the June 23 referendum will throw global markets into turmoil and undermine confidence in the 28-nation trading bloc.
Gold futures extend gains in weak jobs-report fallout (Market Watch)
Gold futures climbed Monday, adding to a Friday surge that handed the precious metal its sharpest single-day gain in nearly three months as investors rolled back expectations for interest-rate hikes this year.
‘Niger Delta Avengers’ Sabotage Oil Output (Wall Street Journal)
A band of saboteurs that calls itself the Niger Delta Avengers has been prowling the swamps of Nigeria’s petroleum-rich south for four months, bombing pipelines and diving underwater to destroy equipment.
Winning With Unloved Europe Stocks When All Others Fall Flat (Bloomberg)
Buying what nobody wants in Europe is paying off for Luiz Sauerbronn, whose equity fund has beaten 96 percent of his rivals this year.
China to submit 'negative list' for U.S. investment treaty talks next week (Reuters)
China will submit next week its "negative list" offer of sectors that would remain off-limits to U.S. investment in a U.S.-China bilateral investment treaty (BIT), Vice Premier Wang Yang said on Monday.
Japan’s Debt Burden Is Quietly Falling the Most in the World (Bloomberg)
Japan for years has been renowned for having the world’s largest government debt load. No longer.
Rosengren flags jobs report, yet says Fed rate hikes coming (Reuters)
The U.S. economy's rebound from a weak winter has moved the Federal Reserve closer to raising rates, though last month's poor employment report might give it pause, a top Fed official said on Monday.
Politics
Buoyed by attacks on Trump, Clinton heads into pivotal week (Reuters)
Hillary Clinton heads into what could be a defining moment for her efforts to secure the Democratic Party's presidential nomination this week as she rides a boost from her blistering attack on Donald Trump, her likely opponent in the Nov. 8 general election.
Six states – California, Montana, North Dakota, South Dakota, New Jersey and New Mexico – will vote on Tuesday.
Just What Were Donald Trump's Ties to the Mob? (Politico)
In his signature book, The Art of the Deal, Donald Trump boasted that when he wanted to build a casino in Atlantic City, he persuaded the state attorney general to limit the investigation of his background to six months. Most potential owners were scrutinized for more than a year. Trump argued that he was “clean as a whistle”—young enough that he hadn’t had time to get into any sort of trouble. He got the sped-up background check, and eventually got the casino license.
Hillary Clinton Wins Puerto Rico’s Democratic Presidential Primary (Wall Street Journal)
Hillary Clinton overwhelmed Bernie Sanders in Puerto Rico’s Democratic presidential primary Sunday, putting her within striking distance of capturing her party’s nomination.
Mitch McConnell, a Politician in Full (The Atlantic)
Mitch McConnell didn’t want Donald Trump to be the Republican standard-bearer any more than Paul Ryan did. After all, the pair could not be more different in personality and style. McConnell cherishes the very rules, decorum, and tradition that Trump flouts at every turn. Where the unvarnished Trump speaks without a filter, the Senate majority leader is coolly calculating, choosing his public utterances as carefully as anyone this side of the Vatican. Yet unlike his counterpart in the House speaker’s office, McConnell didn’t agonize for a month over whether to endorse the presumptive nominee.
Technology
Check out the mind-blowing Sensus Smart Guitar that won best startup at Midem in Cannes (Venture Beat)
Over the past weekend, I got a chance to see and hear from 20 impressive music startups working on everything from aggregation to hardware at the Midemlab startup contest in Cannes.
While judges were impressed overall, there was no question about which offering would take the top prize: the Sensus Smart Guitar by Mind Music Labs of Sweden.
World's Largest Radio Telescope Faces Troubling Future (Scienctific American)
One of the world’s most iconic astronomy sites, Puerto Rico’s giant Arecibo Observatory, may be facing the end of its era. The National Science Foundation (NSF), the primary funder of Arecibo—which is the largest existing radio telescope and was featured in the movies Contact and GoldenEye, among others—is holding public meetings on June 7 to “evaluate potential environmental effects of proposed changes to operations at Arecibo Observatory,” according to an NSF announcement.
Three Ways The Tech Industry (Still) Misuses Metrics (Fast Company)
As one designer puts it, "It's easy while moving fast and breaking things to trust data blindly."
I once had a project manager ask me to redesign a home page. Without going over why we were redesigning it, he launched into his plan of how it all should go: Each section's size would correspond with what percentage of clicks they received on Google analytics.
Health and Life Sciences
Women 'have higher risk of anxiety' (BBC)
Women are nearly twice as likely to experience anxiety as men, a global review reveals.
Its authors from Cambridge University say that as well as women, young people under 35 and those with health problems are particularly affected.
Life on the Home Planet
Tens of thousands of Singaporeans blanket a field in pink for pride (Mashable)
Singapore's annual LGBTI pride gathering received a massive turnout again this year, with tens of thousands of Singaporeans showing up for the Pink Dot event dressed in pink.
The parade, in its eighth year, has always been held at Hong Lim Park — a government-designated "free speech" area in the middle of the city — and seen steadily rising attendance over the years. Starting with 2,500 people in 2009, attendance swelled to 28,000 people last year.
U.S.-backed force in Syria closes in on Islamic State-held city (Reuters)
U.S.-backed Syrian fighters have surrounded the Islamic State-held city of Manbij from three sides as they press an offensive against the jihadists near the Turkish border, a spokesman for the fighters said on Monday.
