• Jobs: June Nonfarm Payrolls came in softer than expected, pushing traders to doubt a September Fed hike
• Inflation: Consumer inflation expectations remain sticky and well above pre-war levels
• Consumer Sentiment: University of Michigan index rose to 48.9 from a record-low 44.8 in May
• Dollar: The US Dollar Index finished the week down ~0.50%, stabilizing near 100.90

The Checkup

The June jobs miss isn't just a data point — it's a narrative...