wiar 5-05-17

Mary FanslauWhat I Am Reading

May 05 (Friday)

Markets
Commodities Drop Damps U.S. Stocks (W)
Stocks and bonds are fully valued (BI)
Ed Yardeni has a simple reason why stock-market investors are so relaxed (MW)
Macron, earnings hopes send European shares to 20-month high (R)
Why the ‘Fear Gauge’ Is Missing the Market’s Anxiety (W)

Credit
The Slow, Leaking Poison of the [Junk] Bond Market (W)
The U.S. Treasury Is Studying the ‘Costs and Benefits’ of Ultra-Long Bonds (B)

Commodities
Deepening Gasoline Glut Pushes Oil to a Five-Month Low (W)
Crude Tumbles to Lowest Since OPEC Deal (B)
The World Is Buying American Diesel as Fast as Refiners Can Make It (B)
Metals Extend Sell-Off on Mounting China Concerns, Fed Outlook (B)

Central banks
Fed officials are giving more speeches than ever but their message is still muddled (BI)

US
U.S. Trade Activity Picks Up in First Quarter (W)
U.S. Productivity Fell in the First Quarter (W)
American Consumer Comfort Remains Close to a 15-Year High (B)
As U.S. Jobs Move to High Skill, Men Join College at Record Level (B)
Medical Examiners Skip Some Autopsies as Opioid Crisis Mounts (W)

Europe I
Eurozone’s Recovery Broadens (W)
Europe’s economy is doing even better than we thought (BI)
Schaeuble Says Euro Area Needs Fiscal Discipline to Be Strong (B)

Europe II
Poll Says Macron Wins Brutal French Debate With Le Pen (B)
France’s Macron accuses presidential rival Le Pen of spreading lies (R)
EU Warns Emotions Getting Out of Hand on Brexit (W)
JPMorgan to Move Hundreds of Staff to Three EU Offices on Brexit (B)

China
China’s Push to Stabilize Financial System Leaves Markets in Disarray (W)
China is becoming more cautious with credit — and that’s not good for growth (BI)
How China has become America’s equal, as showcased at a Harvard forum (SCMP)

US politics I
House Passes GOP Health-Care Bill (W)
Senate GOP to Snub House Obamacare Repeal Bill and Write Its Own (B)
Legislation Faces Uncertain Senate Prospects (W)
Obamacare Is Still Not Dead Yet (B)
GOP’s Health Plan: Tracking Key Changes One Amendment at a Time (B)
Insurers Signal Big Shifts in State Health Plans (W)
Out-of-Pocket Caps in Employer Plans at Risk (W)
The Balance Sheet for Republicans (W)

US politics II
House Panel Approves Plan to Undo Parts of Dodd-Frank (W)
Trump’s Tax Math Has a Big Problem (B)
Ruled Out: 13 Obama Regulations Rolled Back Under Congressional Review Act (W)
Trump to Ease Restrictions on Religious Groups (W)
Comey’s Calculations Favored the GOP (B)
Comey Says It Makes Him ‘Nauseous’ to Think FBI Might Have Impacted Election (B)

Geopolitics
Russia, Turkey and Iran Sign Syria ‘De-Escalation Zone’ Deal (W)
North Korea issued a rare statement attacking China — and China hit back (BI)
Trump’s Plan to Isolate North Korea Faces Trouble—in the South (W)
Trump’s tax cut plan poses a new threat to China (SCMP)
Trump visa crackdown spurs tech moves to Mexico (FT)
Trump to Visit Saudi Arabia, Israel and the Vatican (W)

Industries & companies
Airlines: Global air passenger demand rises 6.8 percent in March: IATA (R)
Autos: As Inventor of Subprime Car Loans Exits, Critics Smell a Lemon (B)
Autos: Tesla is building stores all over the world ahead of the Model 3 launch (BI)
Autos: Musk predicts Tesla will overtake Apple one day (FT)
Autos: VW Is Back and Rolling in Cash—and That Could Be a Problem (W)
Autos: Ferrari Surges to Apple-Like Margins With $2.1 Million Car (B)
Energy: Shell Profit Soars as Oil Sector Bounces Back (W)
Financials: BofA’s Moynihan calls big bank break-up ‘crazy’ (FT)
Financials: HSBC buoyed by higher interest rates (FT)
Financials: State Farm to Displace 4,200 Workers, Shutter 11 Locations (B)
Media: Media Investors Fret About Outlook for Ads, Pay TV (W)
Media: New York Times Co. Reports Rising Digital Profit as Print Advertising Falls (N)
Retail: Can Wal-Mart’s Expensive New E-Commerce Operation Compete With Amazon? (B)
Retail: Why the Retail Crisis Could Be Coming to American Groceries (B)
Tech: Here’s how Apple’s iPhone sales have progressed over the years (BI)
Tech: Apple Plans $1 Billion Manufacturing Fund (W)
Tech: Apple Buys More Company Debt Than World’s Biggest Bond Funds (B)

Technology
The Future of Jobs and Jobs Training (Pew)
Bosses believe your work skills will soon be useless (WP)
The Upshot: How to Prepare for an Automated Future (N)

Offbeat
Rich Families Go Solo on Deals, Cutting Private Equity (B)
Obama Unveils Design for Presidential Center in Chicago (W)
Oops! Chinese defense ministry’s PLA poster a big Photoshop fail (SCMP)