wiar 6-22-17

Mary FanslauWhat I Am Reading

Jun 22 (Thursday)

Bulls Are Going All-In on the Biotech Rally (B)
Welcome to the Jungle: an MSCI Trader’s Guide to China’s Stocks (B)
Wall Street got something big from Paul Ryan’s tax cut speech (BI)

Bond Market Says “Relax” (B)
High-Yield Carnage Stays Contained for Now (B)
In the New Bond Market, Bigger Is Better (W)

Oil Plunges Below $45 for the First Time Since November (B)
This is the real reason we’re ‘drowning in oil,’ says Ed Yardeni (MW)
Gas prices are back down to where they were in 2000 (WP)

The Dirty Little Secret of ETFs Is a Selling Point for This Fund Veteran (B)

Central banks
The case for US monetary inactivity (FT)

U.S. Home-Sales Pickup Signals Market Withstanding Weak Supply (B)
U.S. Enjoying Easiest Financial Conditions in Three Years: Chart (B)
The Economy Needs Amazons, but Mostly Has GEs (W)
Opioids Given to Almost 1 in 4 Medicaid Patients, Study Finds (B)

Italy’s right rehearses for return to centre stage (FT)
Refugees to be jobless for years, German minister warns (FT)

China Firms Might Need to Shape Up After MSCI Lays Out Red Carpet (W)
Dynastic Reshuffle Means a More Activist Saudi Arabia (W)
Saudi King Replaces Nephew as Crown Prince, Installs Son (W)
Saudi Aramco’s IPO Plans Buoyed by Royal Reshuffle (W)
Thailand’s Bad Loan Ratio Is Worse Than China’s (B)

US politics
GOP Fends Off Challenge in Georgia House Race (W)
GOP’s Ralph Norman Wins House Seat in South Carolina (W)
The GOP Is as Divided as Ever (B)
Democrats’ loss in Georgia prompts soul-searching (FT)
Trump Administration Makes June ACA Payments (W)
Spicer Shifts to Lower-Key Approach as White House Spokesman (W)

Trump warns on North Korea ahead of US-China talks (FT)
EU Discussing Role as Broker on North Korea (W)
In Saudi Shakeup, Economics Tops Counterterrorism (B)
Russia Considers Options as U.S. Steps Up Sanctions (W)
Russia Targeted 21 States for Election Hacking, Official Says (W)

Industries & companies
Aerospace: Boeing Beats Airbus in Air-Show Orders for First Time Since 2012 (B)
FAAMGs: Nike to Sell Some Items Directly to Amazon (W)
FAAMGs: Wal-Mart to Vendors: Get Off Amazon’s Cloud (W)
Energy: Texas Is Too Windy and Sunny for Old Energy Companies to Make Money (B)
Health Care: Insurance Startup Oscar Raises Its Bet on Affordable Care Act (W)
Health Care: Anthem, Obamacare Stalwart, Pulls Out of Two More States (B)
Media: CBS Scores Big Increases in Ad Market for Next Season (B)
Retail: Wayfair Founders Turn Six-Year Spending Spree Into $2.74 Billion (B)
Tech: Uber Scrambles for a CEO With Rough Road Ahead (W)

Corporate finance
Buyback outlook darkens for US stocks (FT)
China’s HNA Takes a Page From Private Equity in Deal Spree (W)
Biopharma Outsourcing Is Going Through Deal Bonanza in U.S. (B)
Altice USA Set to Be One of the Biggest IPOs of the Year (W)

Banks to Cut $1.2 Billion in Research Spending, McKinsey Says (B)
Car Buyers Complain About Semiautonomous Features (W)