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The U.S. Supreme Court on Monday dealt a setback to Louisiana and Kansas, turning away their appeals of lower court rulings that blocked their efforts to end public funding to Planned Parenthood, a national women’s healthcare and abortion provider, through the Medicaid program.

The justices’ decision to turn away both states’ appeals leaves intact lower court rulings that prevented them from stripping government healthcare funding from local Planned Parenthood affiliates. The case, which did not challenge the constitutionality of abortion itself, is one of a number of disputes working their way up to the Supreme Court over state-imposed restrictions on abortion.
 

JPMorgan, BofA Detect Hints of a U.S. Recession Looming in 2019
Bloomberg - Are you a robot?

Wall Street’s biggest banks are scouring U.S. data for signals of an impending recession. On balance, they’ve been finding that a 2019 downturn still isn’t likely -- though it’s becoming slightly more so.

The current expansion is eight months away from becoming the longest in postwar history. Most indicators remain solid enough to suggest it’ll get there. But the sell-off in stocks and an inversion in part of the bond yield curve has analysts parsing the tea leaves for anything that points to a contraction in 2019.

Economists at JPMorgan Chase & Co, Goldman Sachs Group Inc., UBS Group AG and Bank of America Corp. are among those who’ve joined the hunt in their recent research notes.

JPMorgan sees a 35 percent chance of a recession next year, close to the highest probability in the current cycle, and up from 16 percent in March. Globally, UBS studied 40 countries over about 40 years and found the U.S. to be among those currently behaving in a way inconsistent with prior peaks.

So if a downturn is creeping into the realm of possibility, it’s hardly the base-case scenario. The alarm bells that usually ring when a recession is imminent are doing a muted job of signaling one. Several indicators are slowing down, but economic data have yet to fall off a cliff.

Alarm Bell 1: Jobs Data …

Alarm Bell 2: Business Surveys …

Alarm Bell 3: Yield Curve …
 
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