wiar 4-07-17

Mary FanslauWhat I Am Reading

April 07  (Friday)

Markets
High Tax Stocks Show Investors Doubt Trump Cuts 2017 (BI)
Strategist Ed Yardeni: Bonds have not ‘bought into’ the big rally (C)
Investors Are Tiptoeing Back Into One of the World’s Biggest Junk Bond ETFs (B)
Not a Dot-Com Bubble, not 2007, but a Nasty Mix of Both (W)
A JPMorgan asset manager overseeing $350 billion thinks Europe is an unexploited opportunity for investors (BI)

Oil
Oil Rises to 1-Month High as OPEC Cuts Weighed Against U.S. Glut (B)
An Oil Giant Is Still Burning Through Its Cash Pile (B)

Central banks
Traders Bet the Fed Will Slow Rate Hikes to Shrink Balance Sheet (B)
Most Fed Officials Saw Reduced Balance Sheet ‘Later This Year’ (W)
Investors in the dark on Fed’s balance sheet plans (FT)
The Fed isn’t sure if Trump can deliver on his economic promises (BI)
ECB’s Draghi Says It’s Too Soon to Reduce Stimulus (W)
Kashkari Slams Jamie Dimon’s Complaints About Regulatory Burden (B)

Global
IMF Global Financial Stability Report – April 2017

US
Two of Wall Street’s Biggest Names Are Sounding the Alarm on the U.S. Economy (B)
What does the federal government spend your tax dollars on? Social insurance programs, mostly (Pew)
Number of U.S. adults cohabiting with a partner continues to rise, especially among those 50 and older (Pew)

Europe
Europe’s Nationalist Parties Are No Passing Fad (W)
JPMorgan softens tone on Brexit jobs warning (R)

China
China’s Efforts to Boost the Yuan (FRB-SL)

US politics
White House Takes Lead on Tax Plan (W)
Senate Eliminates Filibuster for High Court Nominees (W)
Republicans rewrite Senate rules with Gorsuch vote (FT)
How powerful is the Congressional Review Act? (Brookings)
Movement to Raise Minimum Wage Runs Into Resistance (W)
House Intelligence Chairman Nunes Recuses Himself From Russia Probe (W)
Nunes Recusal Gives House Russia Inquiry Chance at New Start (B)

Geopolitics & terrorism
U.S. Fires 60 Missiles on Syrian Airfield in Response to Gas Attack (B)
Syrian Deaths Linked to Sarin Gas (W)
Putin hits back at US over alleged Syria gas attacks (FT)
Philippines’ Duterte Orders Fortification of South China Sea Islands (W)

Industries & companies
Autos: Ford to Make Electric Cars in China Amid Green Drive (W)
Autos: GM Joins Ford Worrying About Declining Used-Car Prices (B)
Financials: Cohn Backs Wall Street Split of Lending, Investment Banks (B)
Health care: Aetna to Exit Iowa’s ACA Marketplace (W)
Media: Cable Giant Comcast Jumps Into the Mobile-Phone Wars (W)
Tech: Amazon to Add 30,000 Part-Time U.S. Jobs (W)

Technology
Amazon’s Robot War Is Spreading (B)
Machine learning is now used in Wall Street dealmaking, and bankers should probably be worried (BI)
Volkswagen Invests $180 Million in a Chinese AI Startup (BI)
Thousands of Uber, Lyft Drivers Fail Massachusetts Background Check (W)

Offbeat
A senator found Medicare blowing hundreds of millions on a drug private insurers wouldn’t touch — and nothing happened (BI)