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ECONOMY

You’re Hired

Employers just keep on hiring.

U.S. employers added 272,000 new jobs in May, far exceeding the expectations of people who enjoy trying to predict these things a few days early (aka, economists). Most of the added jobs were in healthcare (68,000), government (43,000), and leisure and hospitality (42,000). Average hourly pay rose 0.4% month over month and 4.1% year over year.

Unfortunately, new jobs and wages weren’t the only thing that was up; unemployment rose from 3.9% to 4%, ending its historic 27-month streak under 4%. 

News of the unexpectedly strong job and wage growth dampened hopes of the Federal Reserve cutting interest rates this summer. Most investors still expect one, maybe two, rate cuts—which would bring down the cost of mortgages, car loans, and other debt—this year.

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ETERNAL PERSPECTIVE
Our hope is never contingent on an economic outcome; it’s much more secure than that. Regardless of whether things get worse or better during your lifetime, everything eventually ends well for followers of Christ.

“Because of his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you… You rejoice in this, even though now for a short time, if necessary, you suffer grief in various trials.”
1 Peter 1:3-4, 6 (CSB) (read full passage)

SCOTUS

It Pays to Wear the Robe

New SCOTUS financial disclosures are offering a peek into justices’ wallets.

It turns out the big bucks are in books. According to ethics codes, justices’ earnings are limited to their salaries (~$300K) and book sales… and they’re securing book advances up to $900K. 

Lavish gifts were also noted. Justice Thomas revised his 2019 disclosure to include two luxury trips on the dime of a wealthy friend—and GOP donor—while Justice Jackson disclosed receiving thousands of dollars in artwork and Beyoncé tickets.

Meanwhile, the Court still has lots to do before breaking for summer. On the decision docket: three cases affecting former President Trump, two on abortion, two on guns, three on free speech and social media, and three on the power of government agencies. Decisions are expected by late June or early July.

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CHRISTIAN PERSPECTIVE
Whether justices are above or below reproach, we can count on perfect justice and inexhaustible mercy from the courts of heaven. The Lord is not swayed by the power and wealth that tempt us toward partiality, and his verdicts restore what sin has broken. 

“The Rock—his work is perfect; all his ways are just. A faithful God, without bias, he is righteous and true.”
Deuteronomy 32:4 (CSB) (read full passage)

SPONSORED

As Expected

This election year is living up to the hype.

A recent poll found that 47% of adults say a civil war is either “likely” or “very likely” in their lifetime. A separate poll found that ~90% of Americans are sometimes, often, or always exhausted and angry when they think about politics.

Before you head to your bunker—there’s reason for hope. Just go read reviews for our podcast.

It turns out that 24/7/365 partisan news that seeks to stoke anger and fear… creates anger and fear. However, concise, politically neutral news delivered three times a week alongside reminders of God’s promises and commands creates peace and hope.

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HOW TO HELP
The news is far less depressing and divisive when paired with reminders to focus on eternity and love your enemies. You can help more people receive that type of news by choosing to pay for The Pour Over. 

Over 600,000 people receive this newsletter, and nearly 200,000 of them are attributed to money received from readers who choose to pay. Join them in spreading peace and hope.

“I lift my eyes toward the mountains. Where will my help come from? My help comes from the Lord, the Maker of heaven and earth.” 
Psalm 121:1-2 (CSB) (read full passage)

SPORTS

Wickets and Pucks

We’ll start with a shocking upset in a sport we don’t cover much have never covered… cricket.

Team USA’s part-time cricket team beat powerhouse Pakistan in the T20 World Cup. Cricket enthusiasts hope the win, likened to an MLB team losing to a minor league squad, will (finally) bring American attention to the world’s second-most popular sport.

In WNBA news, Caitlin Clark will reportedly not be representing the U.S. in the Paris Olympics this summer, a surprise given her star power. 

Finally, the puck dropped on the Stanley Cup Playoffs Saturday night, and the Florida Panthers dominated the Edmonton Oilers with a resounding 3-0 win. Edmonton hopes to become the first Canadian team to bring home the Cup since 1993, while Florida still seeks its first championship after losing in the finals last year.

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Verse to consider whether your sport is cricket, basketball, hockey, or Quidditch… “So, whether you eat or drink, or whatever you do, do everything for the glory of God.”
1 Corinthians 10:31 (CSB) (read full passage)

Migrant arrests at the U.S.-Mexico border dropped to 3,100 on Friday, down roughly 20% from days before. It’s a sign of “some possible early success” for President Biden’s controversial new executive order, which bars migrants who enter the country illegally from claiming asylum (with some exceptions) and expedites their deportation. The policy has faced criticism from both sides.
 

Steve Bannon has been ordered to begin serving his four-month prison sentence by July 1st. Bannon, a longtime advisor to former President Trump, was convicted in 2022 for refusing to comply with a congressional subpoena. He recently lost an initial appeal—prompting the judge to revoke his bail—but has promised to keep fighting “all the way to the Supreme Court.”
 

Uncle Sam may get his Juuls back. The FDA has reversed its marketing ban on Juul e-cigarettes two years after ordering the company to stop selling products (Juuls have remained on shelves pending an appeal). The vapor hasn’t completely cleared; Juul faces other regulatory hurdles and continues to settle lawsuits alleging it marketed nicotine products to minors.
 

A woman and two teenagers were injured in back-to-back shark attacks on the Florida panhandle Friday afternoon. The attacks happened less than five miles apart along the popular 30A stretch of beaches, prompting water closures. One teen sustained a minor foot injury, but the woman and other teen—who lost her hand and part of her leg—remain hospitalized.
 

The Israeli Defense Forces rescued four hostages last week in a “high-risk, complex mission” near a refugee camp in central Gaza. The hostages are “in good health” and have reunited with their families. The U.S. provided intelligence but didn’t participate in the hostage raid, which quickly turned into an intense battle; there were between 70-210 casualties (reports conflict).

WHIPPED CREAM ON TOP

Folding a paper crane with a surgical robot…

Where to Consider Investing
Masterworks*

Investing in art isn’t just for high rollers anymore, thanks to Masterworks. With this platform, TPO readers can take advantage of investment opportunities previously exclusive to the ultra-wealthy—raised pinkies optional. 

Picture this: Masterworks acquired a Jean-Michel Basquiat painting for $5.7M, offered shares for $20 each, and later sold the work for a cool $8M. The net proceeds were then distributed to 2,181 investors, who got a return of 6.3%!

BTW, the Basquiat wasn’t a fluke. Masterworks has delivered net annualized returns the likes of 17.6%, 17.8%, 21.5%, and more.

Want to get in on the action or learn more about art investing? The Pour Over readers can skip the waitlist to join!

Past performance not indicative of future returns or of artworks not yet sold. See full disclosure note at the bottom of this email.

What Our Dogs Are Barking About
Sundays*

“Summertime is for attacking sprinklers and chasing squirrels… not waiting for mom and dad to prep my meals.” - dogs everywhere (probably). 

This summer, fetch a better solution with Sundays for Dogs.

Formulated by a practicing veterinarian, Sundays makes ready-to-woof-down dog food from human-grade, naturally nutritious ingredients and slowly air-dries it for shelf-stable storage. It’s a prep-free, mess-free, stress-free way to spend 40% less than you would on frozen dog food (now that’s something to wag about). 

Sundays guarantees you’ll see a difference in your pup within 14 days, or they’ll refund your first order. Use our link and get Sundays today!

Masterworks Full Disclosure Statement:

The content is not intended to provide legal, tax, or investment advice. Investing involves risk.

“Annualized net return” or “IRR” refers to the annualized internal rate of return net of all fees and expenses, calculated from the offering closing date to the date the sale is consummated. For additional information regarding the calculation of IRR for a particular investment in an artwork that has been sold, a reconciliation will be filed as an exhibit to Form 1-U and will be available on the SEC’s website.

No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation. See Offering Documents and Important Disclosures at masterworks.com/cd.