The ThreatCon is currently at Level 2: Elevated.

On July 12, Microsoft released its scheduled patch update for July 2016. This month's update covers vulnerabilities in Internet Explorer, Microsoft Office, Microsoft Edge, Microsoft Windows Kernel, Microsoft Windows Print Spooler, Microsoft Windows Secure Boot, .NET Framework, and JScript and VBScript scripting engines. Eleven security bulletins have been released to address these issues.

Customers are advised to apply all patches as soon as possible

Microsoft Security Bulletin Summary for July 2016
https://technet.microsoft.com/library/security/ms16-jul

Threatcon Level 1
ThreatCon Level 1
Low : Basic network posture
This condition applies when there is no discernible network incident activity and no malicious code activity with a moderate or severe risk rating. Under these conditions, only a routine security posture, designed to defeat normal network threats, is warranted. Automated systems and alerting mechanisms should be used.
Threatcon Level 1
ThreatCon Level 2
Medium : Increased alertness
This condition applies when knowledge or the expectation of attack activity is present, without specific events occurring or when malicious code reaches a moderate risk rating. Under this condition, a careful examination of vulnerable and exposed systems is appropriate, security applications should be updated with new signatures and/or rules as soon as they become available and careful monitoring of logs is recommended. Changes to the security infrastructure are not required.
Threatcon Level 1
ThreatCon Level 3
High : Known threat
This condition applies when an isolated threat to the computing infrastructure is currently underway or when malicious code reaches a severe risk rating. Under this condition, increased monitoring is necessary, security applications should be updated with new signatures and/or rules as soon as they become available and redeployment and reconfiguration of security systems is recommended. People should be able to maintain this posture for a few weeks at a time, as threats come and go.
Threatcon Level 1
ThreatCon Level 4
Extreme : Full alert
This condition applies when extreme global network incident activity is in progress. Implementation of measures in this Threat Condition for more than a short period probably will create hardship and affect the normal operations of network infrastructure.