According to Reuters, the two-year U.S. interest rate swap spread--a gauge of financial system stress--was quoted at a record high 166.5 basis points in Asia, suggesting that concern about defaults among banking counterparties were worsening.

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The Institute for Supply Management's index of manufacturing activity, a forward-looking gauge of the strength of the U.S. manufacturing sector, came in at 53.7 on June 5, a level consistent with economic expansion.

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When this recession-warning gauge passes the threshold probability of 50%, the U.S. hotel industry enters a recession.

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He had discovered a U.S. Army report suggesting that a military version of the Mossberg twelve-gauge, when dropped on its muzzle, can occasionally misfire.

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Friday's meeting was an opportunity for the U.S. to gauge Tokyo's intent to join negotiations on the Trans-Pacific Partnership, or TPP, a regionwide free-trade pact pushed by Washington.

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