wiar 7-18-17

Mary FanslauWhat I Am Reading

Jul 18 (Tuesday)

Markets
China just had a ‘Black Monday’ (BI)
One of the market’s biggest fears is overblown[: Shrinking Profit Margins] (BI)
The Vanishing Reward for Buying High-Yield Bonds (W)
Investor Love Affair With Emerging Bonds Is Losing Momentum (B)

Asset managers
BlackRock’s Earnings Rise On Stronger Inflows (W)
Vanguard Reaches the Top, But It’s Hard to Stay There (B)
KKR Elevates Next Generation, Prepares for a Future Without Its Founders (B)

Central banks
This Magic Formula Reveals How the ECB Might Taper (B)
Bank of Japan’s ETF Buying Raises Concerns Among Officials (B)

US
Americans Feel Good About the Economy, Not So Good About Trump (B)
New U.S. Subprime Boom, Same Old Sins: Auto Defaults Are Soaring (B)
Larry Fink Says Dark Clouds for U.S. Economy Aren’t Waning (B)
U.S. to Offer More Visas to Temporary Seasonal Workers (W)
This Isn’t the First U.S. Opiate-Addiction Crisis (B)

Europe
Euro-area inflation cools down (Eurostat)

China
China GDP growth points to 2017 rebound (FT)
The Problem With China’s Economic Growth (W)
China Blocks Big Banks From Lending to Dalian Wanda (W)

US politics
House Budget Committee to Consider FY18 Budget Resolution (W)
Treasury Reassures Markets About Secret Debt-Ceiling Plan (B)
GOP Splits Over Health-Law Taxes (B)
Jamie Dimon Is Right to Raise the Alarm (B)
Trump Administration to Share Records About Mar-a-Lago (B)

Geopolitics & trade
‘Herculean’ U.S.-China Trade Deal Gets Less-Than-Heroic Reviews (W)

Industries & companies
Consumer: Activist Proxy Fight Puts Focus on P&G’s Cost-Cutting Effort (W)
Energy: Big Oil Sees Salvation in Gas, But What If It’s the Wrong Bet? (B)
FAANGs: Can the Tech Giants Be Stopped? (W)
FAANGs: Netflix Scorches Subscriber Forecasts; Stock Surges (B)
FAANGs: Blue Apron Shares Tumble Anew as Amazon’s Shadow Looms (W)
FAANGs: 5 Billion Reasons Toys ‘R’ Us Struggles as Amazon Soars (W)
FAANGs: Google Fiber Loses Chief Executive Officer After Five Months (B)
Financials: Regulator Urges CFPB to Delay Rule Barring Mandatory Arbitration (W)
Shipping: China’s shipping ambitions will not easily be contained (FT)
Technology: IBM’s Latest Line of Mainframe Computers Focuses on Encryption (W)

Offbeat
Robotic Hogwash! Artificial Intelligence Will Not Take Over Wall Street (W)