wiar 6-02-17

Mary FanslauWhat I Am Reading

Jun 02 (Friday)

Markets
Global stocks hit records on welter of data (FT)
U.S. Stocks Rise as Oil Prices Rally (W)
The champions of the Trump trade are on life support (BI)
Tech Bubble Talk Is a Dot-Com Flashback (B)
US bank stocks head towards bear market territory (FT)
Returns Soar as Emerging Markets Turn Less Volatile (W)

Credit
S&P, Moody’s Downgrade Illinois to Near Junk, Lowest Ever for a U.S. State (B)
The Incredible Shrinking Junk-Bond Market (B)
Pimco hit by plunge in teetering Spanish bank’s bonds (FT)

Oil
Oil Reverses Gains as Rising Output Outweighs Stockpile Declines (B)
Americans Are Doing Everything They Can to Drain Oil Inventories (B)
Now There’s Another Source of Oil That’s Starting to Get Cheap (B)
Trump Administration Explores More Drilling in Alaska (W)

Central banks
Fed officials keep patting themselves on the back for a huge policy shift (BI)
Bullard: A Case for Shrinking the Fed’s Balance Sheet (FRB-SL)

US
U.S. Manufacturing Activity Advances in May (W)
U.S. Jobless Claims Rose to 248,000 Last Week (W)
ADP Reports 253,000 Rise in Private Payrolls in May (W)
Americans’ Comfort Rises on Strongest View of Finances in Decade (B)
One Sign That Long-Missing Wage Acceleration Could Be Emerging (W)
Debt pile-up in US car market sparks subprime fear (FT)

Europe
London’s Brexit Apocalypse Is Nowhere in Sight (B)
Soros Says Brexit May Last 5 Years and Cause ‘Immense Damage’ (B)
The EU has agreed a recapitalisation plan for the world’s oldest bank, Monte dei Paschi di Siena (BI)
Rescue of Italian lender will not end banking woes (FT)

China
Yuan Makes Biggest Leap in Five Months (W)
Here Are the Theories Why China May Be Supercharging the Yuan (B)
Anbang, After a Flood of Western Deals, Has Been Benched by China (W)
China’s Propaganda Elevates Xi to Socialist ‘Thinker-in-Chief’ (W)
China’s cyber security law and its chilling effects (FT)

Emerging
Brazil GDP Rises in First Quarter After Two-Year Recession (W)

US politics
Bernstein: How Trump’s Chaotic Presidency Threatens the Economy (B)
Former FBI Director Comey to Testify Publicly June 8 (W)
Little-Known Law Is Key to Flynn, Manafort Probes (W)
Hillary Clinton: Russia Got Help From Americans in Election Meddling (W)
Obamacare Is Stabilizing in Pennsylvania, Unless GOP Disrupts It (B)

Paris Climate Accord
Trump Is Withdrawing U.S. From Climate Deal (W)
Trump Paris rejection widens rift with Germany (FT)
Despite Paris Accord Exit, Companies Expect Little Change (W)
Economic Damage From Paris Withdrawal May Emerge in Trade Wars (B)
Trump’s Exit From Paris Climate Accord Won’t Revive Coal Jobs (B)

Geopolitics
U.S. Adds Fresh Sanctions on North Korea Over Weapons Program (B)
Executives take quiet turn away from globalisation (FT)

Industries & companies
Autos: As GM Adjusts to Changing Auto Market, Its Sales Slide Behind Ford’s (W)
Financials: Morgan Stanley CEO Sees Trading Drop Similar to JPMorgan, Bank of America (B)
Financials: HSBC is getting into ‘robo-advice’ (BI)
Media: Google to Prepare Publishers for Chrome Ad Blocker (W)
Restaurants: Fast to Fancy, Restaurants Want to Bring You Lunch (W)
Restaurants: America’s Fast-Casual Dining Boom Is Over (B)
Retail: U.S. consumers will spend $632 billion online by 2020 (BI)
Retail: Wal-Mart Asks Employees to Deliver Packages on Their Way Home (B)
Tech: The Factors Driving Apple’s Valuation, in 14 Charts (W)
Tech: BlackBerry Jumps After Citron Research Cites ‘Game Changer’ Tech (B)

Offbeat
Scientists Detect Two Merged Black Holes (W)
Rush to College Might Be a Mistake (W)
Millennials are still spooked by the 2008 financial crisis (BI)
U.S. Homes Are Finally Shrinking (B)