wiar 5-17-17

Mary FanslauWhat I Am Reading

May 17 (Wednesday)

Markets
Nasdaq Composite Climbs Toward Fresh Record (W)
Germans are right to be nervous over soaring Dax (FT)
Hedge fund manager earnings drop to lowest in a decade (FT)
Brevan Howard’s Hedge Fund Suffered $1 Billion Outflows in April (B)
Activist Investors Have a New Bloodlust: CEOs (W)

Credit & currencies
Bond Math Tells One Analyst That Ultra-Long Treasuries Would Save the U.S. Money (B)
French long-dated bond draws in €31bn of orders (FT)
Seven Banks Said to Be Focus of Mexico Bond Collusion Probe (B)
Bullish Dollar Bets Were the Most Crowded Trade. Not Anymore. (B)

Oil
IEA: Extending Output Cuts Isn’t Enough to Reduce Oil Glut (W)
Oil market rebalancing needs ‘much work’, says IEA (FT)

Central banks
Equity investors should hope BoJ joins tapering pack (FT)

US
U.S. Industrial Production Surged in April (W)
These Charts Show There’s More to U.S. Factory Gains Than Autos (B)
U.S. Housing Starts Fell in April for Third Time in Four Months (W)
Labor Force Poses Limits to 3% Growth (W)
More American Workers Are Testing Positive for Drugs (W)
Rich Retirees Are Hoarding Cash Out of Fear (B)

Europe
Eurozone Trade Surplus Hits Record as Exports Rise (W)
Europe’s Top Court Says Broad Trade Pacts Need Consent From All EU Countries (W)
Austria Readies for Snap Election This Fall (W)

China
China’s Copy of Manhattan Is No Longer a Ghost Town (B)
China’s Web Giants Expected to Post Sales Growth Above 40% (B)

Emerging
India the next frontier for China property groups (FT)
Putin Is Playing the Melting Arctic for Everything It’s Worth (B)
Asia’s Most Overworked Hope to Gain the ‘Right to Rest’ (B)

US politics
McConnell Calls for ‘Less Drama’ From White House (B)
McConnell Won’t Guarantee All Tax Cuts Stay in Health-Care Bill (B)
McConnell Is Pessimistic Congress Will Overhaul Dodd-Frank (B)
Trump’s Pentagon Budget Adds One Ship and No Planes to Obama Plan (B)

Geopolitics & terrorism
Israel Provided Intelligence Trump Shared With Russia (W)
Trump Defends Sharing Intelligence ‘Facts’ With Russia (W)
McMaster Says Trump Disclosure Was ‘Wholly Appropriate’ (W)
Trump’s disclosures to Russians spook US allies (FT)
Japan’s Abe: China Has Pivotal Role on North Korea (W)
Assad Regime Mocks U.S. Claims of Prison Killings, Crematorium (W)

Cybersecurity
Researchers Identify Clue Connecting Ransomware Assault to Group Tied to North Korea (W)
Cybersecurity Firm: U.S. Hacker Linked to Fake Macron Documents (W)
Hackers Face Tough Task Converting Bitcoin Ransom Into Cash (W)
New Wave of Ransom Threats Seen in Unprecedented Attack (B)

Industries & companies
Airlines: Boeing Delivers First 737 Max to Lion Air (B)
Amazon: Amazon’s 49,000% Gain: The Most Super of ‘Superstocks’ (W)
Autos: Despite Promises, Car Makers Are Set on Job Cuts (W)
Materials: Glencore Says Electric Car Boom Is Coming Faster Than Expected (B)
Materials: BHP says it is willing to sell US shale business (FT)
Media: Disney’s Iger Isn’t About to Let Go as CEO (W)
Media: Unreleased Disney Film Target of Online Piracy Threat (W)
Restaurants: Starbucks Payment Systems Crash After Company Updates Technology (B)
Retail: U.S. Retailers Urge Trump’s New Trade Envoy to Save Nafta (B)
Retail: From Prices to Patents, Target Is Losing the Battle to Wal-Mart (B)
Tech: Apple Plans Laptop Upgrades to Take on Microsoft (B)
Tech: Facebook Refunds Some Advertisers After Finding New Measurement Bug (W)

Technology
Humans and Robots Team up in New SoFi Wealth Management Push (B)
Robots learn the business of risk (FT)

Offbeat
Why Carrying Concealed Weapons Could Get Easier (W)
Research on Strokes Extends the Window for Clot Removal (W)