wiar 5-18-17

Mary FanslauWhat I Am Reading

May 18 (Thursday)

Markets
Critical Question for Stocks Is How Much Trump Bump Baked In (B)
Washington Tumult Hits Stocks, Drags on Dollar (W)
Trump stimulus doubts buoy US muni bonds (FT)
Chinese Stocks Are Finding Favor, as Long as You’re Not in China (B)

ETFs
Harvard, Yale, Stanford Make Big Bets on Exchange-Traded Funds (B)
Blackrock Says Some ETF Investors Are Making This Classic Mistake (B)
Quadruple-Levered ETF? SEC Hits Pause on Its Approval of an Exotic Investment (W)
Active and Passive: Complementary, Not Competing, Strategies (P&I)

Currencies
Move Over Dollar, the Euro Is in the Driver’s Seat (W)
White House noise proves distracting for dollar investors (FT)
China Investors Aren’t Buying Central Bank’s Yuan Fix (W)

Central banks
Fed’s Rate-Hike Odds Tumble After Washington Chaos Hits Bond Market (B)
Full Employment Poses Tough Choices for Trump, Fed (W)
Bernanke Says Economy Nearing Capacity With Jobless Rate Low (B)
Benoît Cœuré: Dissecting the yield curve – central bank perspective (BIS)

US
U.S. Household Debts Hit Record High in First Quarter (W)
Household Debt Reaches New Peak Driven by Gains in Mortgage, Auto, and Student Debt (FRB-NY)
Household Borrowing in Historical Perspective (FRB-NY)
Banks Tighten Auto Lending as More Borrowers Fall Into Default (B)
Auto Loan Borrowers May Be Gaming Their Credit Scores, UBS Says (B)
Buyers With Excellent Credit Are Getting the Lion’s Share of U.S. Mortgages (B)
Where Jobs Have Yet to Recover Since the Recession (W)

Europe
Macron Names Bruno Le Maire Economy Minister (W)

China
Topic: Belt and Road Initiative (SCMP)
Trump Trade Reboot Spurs U.S. Push by China Investment Corp (W)

US politics
Wall Street Loses Faith in GOP Tax Cut Promise Amid Trump Chaos (B)
Paul Ryan pledges to advance tax cuts amid the Trump bombshells (BI)
Trump Asked Comey to End Flynn Probe: Memo (W)
Congress Seeks Comey Testimony After Russia Turmoil Engulfs Trump (B)
Trump defends sharing terrorism ‘facts’ with Russia (FT)
Putin Dismisses Accusation That Trump Shared Secrets (W)
Russian State-Run Bank Financed Deal Involving Trump Hotel Partner (W)
Billionaire Zell Says Trump ‘Cacophony’ Doesn’t Make Him Unfit (B)
Ivanka Trump Criticized Over Chinese Factories Allegedly Paying $1 an Hour (B)
Everything You Need to Know About Impeachment (B)

Geopolitics & trade
Five Times Trump’s Foreign Policy Milestones Have Been Overshadowed By Other Events (W)
Trump Rules Out Moving Israel Embassy to Jerusalem for Now (B)
Trump Administration Weighs Adding Currency Rules to Nafta (W)

Cybersecurity
New Threats Fuel Fears of Another Global Cyberattack (W)

Industries & companies
Amazon: Amazon’s Australian Expedition to Rattle Retailers (W)
Autos: Ford to Cut 10% of Salaried Workforce in Asia, North America (W)
Financials: Banks Stocks Don’t Deserve a Battering (B)
Financials: Goldman Sachs piles into US leveraged loans market (FT)
Pharma: States Wage Battles Over High Drug Prices (W)
Pharma: The world’s largest drugmaker thinks it has 11 billion-dollar drugs in the pipeline (BI)
Retail: Target Aims to Reshape Image as a Leader on Low Prices (W)
Tech: Apple Falls on Concerns About Trump’s Tax Reform (B)
Tech: Twitter cofounder Biz Stone is rejoining the company, and its stock is up (BI)
Tech: Microsoft will make the most from WannaCry (FT)

Technology
Google to Offer New AI `Supercomputer’ Chip Via Cloud (B)
Google Expands Voice-Based Assistant Service to Apple’s iPhone (B)

Offbeat
How a Bitcoin Clone Helped a Firm Raise $12 Million in 12 Minutes (W)