wiar 5-12-17

Mary FanslauWhat I Am Reading

May 12 (Friday)

Markets
Stocks Retreat After Weak Earnings (W)
Peak emerging markets heave into view (FT)
Taiwan Stock Index Rises Above 10,000 for First Time in 17 Years (B)
China Bonds Send Fresh Stress Signal (W)
The One Bond Market Where Yields are Still at Record Lows (W)
Loonie, Bank Bonds Drop as Moody’s Downgrades Canada Lenders (B)

Commodities
OPEC Raises 2017 Estimate for Supply Growth From Rivals by 64% (B)
Opec faces tough challenge reducing oil inventory (FT)
Money From Chinese State Giants Helped Fund Aluminum Stockpile (W)

Central banks
Fed Plan for Gradual Rate Hikes Is Starting to Look Complacent (B)
Dudley Says Fed May Begin Paring Balance Sheet This Year or Next (B)
Goldman Expects the Fed to Do More as Financial Conditions Prove Resilient (B)
Eurozone bank and high-yield bond yields widen (FT)

US
U.S. Producer Prices Jump 0.5% in April (W)
Six-Week Low in U.S. Consumer Comfort Shows Optimism Is Easing (B)
U.S. Jobless Claims Fell to 236,000 Last Week (W)
Next Hot Housing Market: Starter Homes (W)
The Heroin Business Is Booming in America (B)

Europe
EU Raises Growth Forecasts but Cites Threats From Brexit, Trump (W)
Merkel Says Bigger Role for Euro-Area Backstop Worth Pursuing (B)
Macron wants tougher EU on trade and foreign investment (FT)
With Tax Revenues High, German Politicians Debate How to Spend the Money (W)
Political fears are economic and they trace back to Italy (FT)

China
China’s $246 Billion Foreign Buying Spree Is Unraveling (B)

US politics
Trump Says He Planned to Fire ‘Showboat’ FBI Chief All Along (B)
Acting FBI director contradicts Trump on Comey firing (FT)
Rosenstein Pressed White House to Correct the Record on Comey Firing (W)
Senate Confirms Robert Lighthizer as Trump’s U.S. Trade Representative (W)
Trump Signs Executive Order Aimed at Protecting U.S. Infrastructure, Homeland Security (W)
Trump to Launch Review of Federal Election Process (W)
Trump’s ‘Priming the Pump’: An Old Economics Expression Has a New Fan (W)

Geopolitics & terrorism
Saudis Boost U.S. Ties With $40 Billion Investment (B)
China Now Has a Rail Link Into the Heart of Europe (W)
U.S. Weighs Expanding Laptop Ban to Europe Routes (W)

Industries & companies
Financials: The Volcker Rule: How Trump’s New Regulator May Unleash Big Banks (W)
Financials: AIG Plans to Name Brian Duperreault as Next CEO (W)
Financials: Wells Fargo to Shrink Auto Loan Holdings (B)
Media: What Facebook Could Learn From China’s Censors (W)
Retail: Amid Retail Funk, Macy’s Says ‘We’re Not Dead’ (W)
Retail: Falling Sales Mean Tougher Fixes at Department Stores (W)
Retail: Europe’s Fashion Brands Expand in U.S. Even as American Stores Close (W)
Tech: Tech giants need to rein in powers before EU does (FT)

Technology
Amazon’s New Echo Device Will Be Watching (W)
Tesla’s Solar Roof Pricing Is Cheap Enough to Catch Fire (B)

Offbeat
Hedge Funds Are Facing a U.S. Criminal Probe Over Bond Valuations (B)