Everything from music to Subway franchises to avocados is getting securitized. Follow me down the rabbit hole.

• The job market has taken the spotlight in a holiday-shortened week kicking off Q3.

  • The Nasdaq entered Q3 up 18% YTD, while the S&P 500 gained 14.5% and the Dow rose 3.8%.

  • June's Jobs report, due Friday, is expected to show 188,000 new jobs and unemployment holding steady at 4%.

• Boeing is awaiting a guilty plea over 737 Max crashes, facing a potential $247 million fine that could impact future government contracts.

• Disney and Pixar's "Inside Out 2" passed $1 billion at the global box office, the highest-grossing movie of 2024.

• Hurricane Beryl intensified into a Category 4 storm approaching the Caribbean, the earliest on record in the Atlantic.

📈 Trends you need to know

Hurricane Beryl is…barrelling down… on the Caribbean, projected to hit the Yucatan peninsula Friday.

And it’s a big one.

“Beryl’s arrival marks an exceptionally early – and likely devastating – start to the Atlantic hurricane season. It reached Category 4 strength on Sunday, making it the earliest storm of such strength on record in the Atlantic Ocean and the only Category 4 storm ever recorded in the month of June.”

It’s poised to be the strongest in the region since Ivan in 2004.

And you can gamble on it!

• Will Beryl hit Category 5? (31% chance)

• How many hurricanes will there be this year? (13.6 forecast)

• How many major Atlantic hurricanes will there be this year? (5.7 forecast)

For reference, the NOAA forecasts 11 hurricanes and five major hurricanes

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Ideas, trends, and analysis

• Americans are prioritizing travel over major life milestones, with 1 in 5 millennials postponing important purchases.

• Employers are increasingly seeking part-time workers, with job postings for part-time roles up 10% since January 2022.

• The US national debt surged by $215.65 billion in 30 days, with interest payments exceeding defense, Medicare, and Medicaid spending.

• US inflation was unchanged in May as services costs rose modestly and goods prices dropped significantly.

🌍 Global Perspectives

• 🇷🇺 🇪🇺 Russia is waging a hybrid war on the West to avoid direct NATO confrontation.

• 🇺🇦 Ukrainian President Zelensky appealed for more long-range weapons after a Russian missile strike killed 7 people, including children.

• 🇰🇵 North Korea launched another ballistic missile, a day after vowing "offensive countermeasures" against US drills.

• 🇦🇺 Australian home prices rose for a 17th straight month in June as tight supply outweighed demand pressures from high interest rates.

• 🇦🇷 Argentina's lower house approved economic reforms proposed by President Milei, marking his first big legislative win.

• 🇨🇳 China unveiled rare earth regulations to protect domestic supply, requiring strict reporting for crucial materials.

📊 Crypto

• $BRETT memecoin launched on TON blockchain, combining humor and tech to engage the crypto community.

• The Supreme Court overturned Chevron, reducing SEC's "unilateral power" over crypto, according to experts.

• Bitcoin miners have begun to face significant capitulation as hashrate drops 7.6% to FTX-collapse levels.

🧠 Errata

• A silver pocket watch that belonged to President Theodore Roosevelt is back on public display after having gone missing for nearly four decades.

• A propane tank explosion at a restaurant in western Turkey killed 5 and injured 63.

• A kinkajou, a rainforest animal, was rescued from a dusty highway rest stop in Washington state.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt