Earlier today, I appeared on CNBC's Power Lunch to discuss the Fed’s most recent rate hike and its impact on the markets. Listen in to learn more.

In part 1 of this series, we discussed how, overall, tariffs can create localized benefits (e.g., helping a particular industry), but they do so by imposing higher costs on the rest of the economy. We also discussed the wider implications—primarily that when a country imposes tariffs, there is a real possibility that other countries will retaliate. This leads to a vicious circle that leaves everyone worse off. Economically, tariffs don’t make a lot of sense.

Trade and tariffs just made the front pages in a big way with the confrontation between the U.S. and other countries at the recent G7 summit. Terms like trade war are being thrown around, and Canada (Canada!) is openly threatening retaliation. So, now seems a good time to take a look at what is really happening—and what it might mean for us and our investments.

With emerging markets hitting the headlines once again, today we have a great piece from Commonwealth analyst Anu Gaggar on what is going on and—more important—what to do about it. Take it away, Anu! — Brad

There were only two major economic news releases last week, but the week ahead will be a busy one.

Market risks come in three flavors: recession risk, economic shock risk, and risks within the market itself. So, what do these risks look like for June? Let’s take a closer look at the numbers.

May’s data improved over an already solid April. Job growth accelerated further, and consumer confidence remained strong. Business confidence also bounced back, taking the trend back to positive territory. Finally, Fed policy continues to be stimulative, which is helpful despite the likely rate increase this month. Overall, the economic data indicates that growth continues and that the recent soft spot may be passing.

This will be a short post as I am traveling. I spent last weekend in London, where I saw (to my delight!) not one but several black swans.

As we head further into June, let’s take a moment to look back at May’s economic news, plus what to expect in the month ahead.

Last week’s reports gave us a broad look at the economy, from employment to manufacturing. This week, we will see two major releases.