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5 big reasons experts are worried about a recession - but there's a bullish response to all of them (3 min read)

Despite the market's strong performance, some economists still anticipate a US recession. The biggest reasons are falling leading indicators, an inverted yield curve, declining money supply, running out of excess savings, and tightening monetary policy. However, Ed Yardeni offers a bullish response to each, arguing that the leading economic indicators are biased, the Fed's quick response to the yield curve inversion mitigated a crisis, the decline in money supply is not alarming, excess savings are still available, and fiscal stimulus has offset tight monetary policy.

UK wage growth matches record high but job market shows signs of cooling (3 min read)
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Although signs of a slowdown in the UK labor market had provided some relief for the Bank of England as they continue to combat high inflation, wages are still rising too quickly to tolerate. The latest key measure of British wages showed that it rose at the joint-fastest pace on record. The wage increase and higher-than-expected growth suggest that the central bank is likely to continue raising interest rates. As of May, inflation in the UK held at 8.7%, the highest among the major economies globally.

Coinbase Soars After Reaching Cboe Surveillance Sharing Agreement for 5 Bitcoin ETF Applications (1 min read)

Coinbase's shares jumped another 16% on Tuesday after the crypto exchange reached an agreement with Cboe's BZX Exchange to maintain a surveillance-sharing agreement. The move is expected to support the regulatory approval process for the spot Bitcoin ETF applications. Shares of Coinbase have surged over 60% in recent weeks despite being subject to a securities violation lawsuit filed by the SEC last month.

Microsoft Cleared to Buy Activision in US as UK Pauses Fight (4 min read)
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Microsoft has received approval from a US judge for its acquisition of Activision Blizzard, leading UK regulators to temporarily halt their legal action against the deal. The UK Competition and Markets Authority (CMA) is now open to consider revising proposals from Microsoft. The US judge's decision concluded that the Federal Trade Commission (FTC) did not demonstrate that the merger would negatively impact competition in the gaming sector. This brings Microsoft closer to completing the acquisition despite potential challenges in other jurisdictions. 

Stock ETF Buying Spree Continued Last Week (2 min read)
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Despite the US stock markets pulling back slightly last week, most assets continued to flow into US equity ETFs. The top two inflows were familiar giant funds, the iShares Core S&P 500 ETF (IVV) and the Invesco QQQ Trust (QQQ). However, the third on the list was more of an unusual name. It was the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL), which selects stocks based on a combination of five investment factors. The full list of the top 10 creations, redemptions, and flows by asset classes is available in the article.

Palladium ETF May Gain on Russian Turmoil, Clean Energy Demand (3 min read)
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The price of palladium, a precious metal for which Russia is the largest producer, has dropped more than 60% since the invasion of Ukraine. However, this article suggests that falling prices and increasing demand in environmental applications suggest a potential turnaround. The Aberdeen Standard Physical Palladium Shares ETF (PALL) which holds physical palladium bullion was highlighted and may be considered a bargain at the current price level.

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Thomas

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