wiar 6-13-17

Mary FanslauWhat I Am Reading

Jun 13 (Tuesday)

Markets
Tech Selloff Doesn’t Mean Investors Have Given Up on the Bull Market (B)
Just Five Stocks Account for Nearly 75% of the Nasdaq’s Plunge (B)
U.S. Stocks Still Best for Vanguard Founder After 400% Gains (B)
Politics Split Prompts Investors to Buy Italy and France, Sell Britain (W)
The Snowballing Power of the VIX, Wall Street’s Fear Index (W)
SoftBank’s Son uses rare structure for $93bn fund (FT)

Central banks
Fed Finds Foe in Financial Markets (W)
Fed rate rise in June could be all for 2017 (FT)

US
GDPNow in Q2’17 is 3.0% on 6/9, down from 3.4% on 6/2 (FRB-ATL)
Subprime Auto Bonds From 2015 May End Up Worst Ever, Fitch Says (B)
Subprime Auto Has ‘Credit Issues,’ Top ABS Analyst at BofA Says (B)
U.S. Budget Deficit Widens (W)

Europe
U.K.’s May Faces Pressure to Soften Brexit Approach (W)
May apologises to colleagues for election disaster (FT)
Brussels insists on power over euro clearing (FT)
Le Pen’s National Front Loses Big in France (W)
Italian bonds rally to 6-month high after Five Star setbacks (FT)
Subordinated debt at small Spanish banks feels the heat (FT)

China
China Data Seen Showing Consumers Steady, Factories Downshifting (B)
Communist Party Pushes China’s Internet Censors to ‘Ensure Political Security’ (W)
Chinese government bonds stir up investor interest (FT)

Japan
Abe Has to Run to Keep Up as Demand for Childcare Grows in Japan (B)

Emerging
Millions of Indian Businesses Are Trying Something New: Paying Taxes (W)

US politics
Attorney General Jeff Sessions to Testify Publicly on Tuesday (W)
Secret Service Has No Records of Any Taping in Trump White House (W)
Ivanka Trump Says She Was Surprised by ‘Viciousness’ in Washington (W)

Geopolitics
U.S. Weighs Sanctioning Chinese Entities Over North Korea (W)
Asia and Europe to bear burden of US protectionism (FT)

Industries & companies
FAANGs: Facebook Feature to Allow Subscriptions to News Publications (W)
Financials: Trump Administration to Call for Modest Changes to Banking Rules (B)
Health Care: Iowa Asks U.S. for Obamacare Help Facing ‘Collapse’ of Market (B)
Industrials: Immelt Successor to Take Broad Review of GE’s Businesses (W)
Industrials: Meet the Next CEO of General Electric: John Flannery (W)
Industrials: GE’s Challenge: Bring Good Things Back to Life (W)
Media: Fox Tries to Gain Leverage Over Affiliates on Live Streaming (W)
Tech: Microsoft’s Xbox One X Will Cost $499 (W)

Corporate finance
Big US pharma dealmaking plunges to five-year low (FT)
J. Crew May Offer a Debt Swap to Buy More Time for Turnaround (B)

Technology
The Electric, Driverless Revolution Is About to Hit the High Seas (B)
Bitcoin Monday: At Record to Down 10% Before You Got Out of Bed (W)

Offbeat
Can a Single Injection Conquer PTSD? The Army Wants to Find Out (W)
Fight the Illegal Opioid Crisis, Too (B)