wiar 4-20-17

Mary FanslauWhat I Am Reading

April 20 (Thursday)

Markets
Big-money investors haven’t hated US stocks this much since the financial crisis (BI)
Who is buying all these ETFs? Increasingly, it’s mutual-fund managers (MW)
Trump ‘absolutely not’ trying to talk down dollar: Mnuchin (R)

Oil
OPEC Chief Sees Oil Producers Closer to Re-Balancing Market (B)
Oil slides toward $50 after spike in stockpiles (FT)
Citi Sees Oil Surging $10 as OPEC Combats Roaring U.S. Shale (B)

Credit
Japan’s 10-year bond yield falls below zero (FT)
Muni Bonds See Record-Setting Winning Streak (B)
Does the market have the appetite for ultra-long bonds? Treasury wants to know (MW)

IMF
IMF urges countries to use fiscal policy wisely amid uncertainty (R)
IMF says Trump corporate tax cuts could lead to financial risk-taking (R)
IMF Warns High Corporate Debt Could Threaten Financial Stability (W)

Central banks
Markets Start to Ponder the $13 Trillion Asset Gorilla in the Room (B)
Fischer Says Foreign Economies Better Able to Handle Fed Hikes (B) | Speech
Fed June Hike Odds Below 50% on Inflation Expectations (B)

US
Fed Beige Book: Modest Wage Growth Is Broadening (W) | The Beige Book
Surprise: The Economy Isn’t Heating Up (W)
Larry Fink: ‘Warning Signs Are Getting Darker’ for the U.S. Economy (B)

Europe
Mainstream European Leaders Try New Election Tactic: Full Embrace of the EU (W)
French Election Shocker: Pollsters Baffled by Four-Way Race (B)
Macron clings on to lead in tense French election race (R)
Britain’s May calls on parliament to back snap election plan (R)
Theresa May is a tactical genius — the snap election locks Labour into an impossible dilemma (BI)

China
China’s $8.5 Trillion Shadow Bank Industry Is Back in Full Swing (B)
As Zeal for China Dims, Global Companies Complain More Boldly (N)

US politics
Trump signs ‘Buy American, Hire American’ order (FT)
Interview with Steven Mnuchin: Transcript (FT)
Runoff likely in much-watched Georgia congressional race (R)
Here’s Gorman’s Wish List for Changes to U.S. Bank Regulations (B)
New book suggests Hillary Clinton blamed everyone but herself for her humiliating defeat to Trump (BI)

Geopolitics
U.S. says Iran complies with nuke deal but orders review on lifting sanctions (R)
PENCE WARNS NORTH KOREA: ‘The sword stands ready’ (BI)
As Trump warned North Korea, his ‘armada’ was headed toward Australia (R)
White House Says It Didn’t Mislead With Ship Location (W)
Xi Jinping restructures military, consolidates control (R)

Industries & companies
Energy: Exxon Seeks U.S. Waiver to Resume Russia Oil Venture (W)
Financials: Fidelity predicts wave of M&As among asset managers (FT)
Financials: Morgan Stanley Trades Its Way Past Goldman (W)
Financials: BlackRock Managed Assets Continue to Rise (W)
Financials: American Express Revenue Beats Estimates After Marketing Push (B)
Tech: Big Blue’s big miss (R)
Tech: Mark Zuckerberg Sees Augmented Reality Ecosystem in Facebook (N)
Tech: Alphabet to help researchers predict disease (FT)

Offbeat
Bill O’Reilly Is Out at Fox News (W)