wiar 10-14-17

Mary FanslauWhat I Am Reading

Oct 14 (Saturday)

Markets
Get Ready, Europe: BlackRock Sees Trillions Headed for Your ETFs (B)
Fink Sees More Systemic Risk Than the VIX Would Have You Believe (B)

Fed commentary
Rethinking Monetary Policy in a New Normal (Brainard, FRB)
Prospects for Emerging Market Economies in a Normalizing Global Economy (Powell, FRB)
Fed president James Bullard tells us why he disagrees with his colleagues about the need for more rate hikes (BI)
What’s the Future of Interest Rates? The Answer’s in the Stars (Williams, FRB-SF)
Fed’s Evans Says Latest Inflation Data Was Not ‘Encouraging’ (B)
Balance-Sheet Normalization in the United States (Bostic, FRB-ATL)

Central banks
The Long-Awaited Fed Balance Sheet Taper Begins Today With Mortgages (B)
Fed Contender Taylor Laments Central Bank’s Precrisis Monetary Policy (W)
What You Need to Know About John Taylor (W)
Summers Says Fed Should Be Less Theological About Independence (B)

Fintech
G-7 Finance Ministers and Central Bank Governors Release Cyber Security Report (US Treasury)
The rise of a new kind of finance is setting off alarm bells at the Fed (BI)
U.S. Faster Payments Governance Framework Formation Team announced (FRB)
IMF Brings Policymakers Together to Foster Cooperation on Fintech (IMF)

Cryptocurrencies
Cryptocurrencies are ‘in the 3rd inning’ — and Wall Street is just getting started (BI)
Jamie Dimon Said He Wouldn’t Talk About Bitcoin Anymore. That Lasted One Day (B)
Bitcoin Competitors Are Being Built in Ex-Google Coders’ Laptops (B)

US
U.S. Retail Sales Rose 1.6% in September (W)
Consumer confidence explodes to a 13-year high (BI)
This Country Has Plenty of Jobs. Where Are All the Workers? (B)

Demographics
For Old and Young Americans, the Economy Couldn’t Look More Different (W)
The share of Americans living without a partner has increased, especially among young adults (Pew)
A closer look at who does (and doesn’t) pay U.S. income tax (Pew)

China
China’s trade data impressed in September (BI)
Chinese Cities Buy Off Housing Glut With Borrowed Money (W)

US politics
Mnuchin Says Parts of Tax Plan Would Be Temporary (W)
Trump Just Took Ownership of Obamacare’s Political Risks (B)
Trump to End Insurer Subsidies (W)
Social Security Benefits Expected to Get 2% Boost in 2018 (W)

Geopolitics
Trump Vows to End Iran Deal Himself if Congress Won’t Act (W)
End-of-Nafta Jitters Emerge in Remote Corner of Global Markets (B)
U.S. Demands Steel Tracking in Tough Nafta Push on Autos (B)
China moves in as US pulls back from global bodies (FT)
South Korea Needs to Diversify Trade Beyond U.S. and China, Finance Minister Says (W)

Industries & companies
Airlines: Boeing passenger jets have falsely-certified Kobe Steel products-source (R)
Airlines: EasyJet in Talks for 25 Air Berlin Jets Based at Tegel Airport (B)
Airlines: FAA Orders Inspections of Engines on Most A380s (W)
Autos: Toyota and Mazda Seek $1 Billion Incentive Package for U.S. Plant (B)
FANGs: Qualcomm Seeks China iPhone Ban, Escalating Apple Legal Fight (B)
FANGs: Amazon Is Coming to the Amazon, Shaking Brazil Retailer Stocks (B)
FANGs: Amazon Is Getting Into Sportswear (B)
Financials: Bank of America Profit Climbs, Driven by Higher Interest Rates (W)
Financials: Wells Fargo Posts Weaker Earnings (W)
Pharma: Bayer to Sell Assets to BASF for $7 Billion (W)
Tech: Samsung’s Leadership Crisis Deepens as CEO Plans Exit (W)

Offbeat
Death toll mounts from California’s wildfires
Surge in Drone Safety Reports Prompts ‘Emergency’ Action at FAA (B)