UK prime minister candidate Burnham said he has decided to engage in politics in a new way.

Analyst Enda Curran said the oil-price rout had already prompted markets to brace for large swings in inf data, but the labor-market narrative now needs revision as multiple, interacting dynamics play out in the economy.

Analyst Eric Merlis said June nonfarm payrolls were significantly below expectations, a stark contrast with a string of upside surprises earlier this year, but the labor market is still adding jobs and wage growth shows little sign of accelerating. With participation falling and hiring cooling, the Fed’s decision to stand pat last month looks less like a policy mistake and more like prudent patience. Markets are repricing: as the inflation debate continues, the probability of further rate hikes is declining.