The Silence of Pride: US Employment Shock and Turkey's Three-Pronged Signal

The US employment shock in June, with only 57,000 jobs added and downward revisions to previous months, has led to a decrease in the Federal Reserve's tightening expectations to 30 basis points. Meanwhile, Russia's overnight missile and drone attack on Kiev resulted in 27 deaths, and Trump's Independence Day celebrations turned into a personal show with a concert that was left empty after musicians withdrew. In Turkey, inflation has cooled for the first time since the start of the Iran war, credit default swap premiums have decreased to 222 basis points, and a Bloomberg analysis has positioned Erdogan among NATO's top five allies, sending a three-pronged signal.