wiar 01-26-18

Mary FanslauWhat I Am Reading

Jan 26 (Friday)

Markets
A Global Convergence of Economic Conditions Is Driving the Market Melt-Up (B)
Inflation threat gnaws away at bond investors (FT)
Larry Fink Joins Ray Dalio in Warning Against Sitting in Cash (B)

Dollar
Has the US dollar stopped making sense? (FT)
Currency traders sense green light to sell dollar (FT)
Commodity prices boosted by tumbling dollar (FT)
ECB’s Draghi Criticizes Mnuchin’s Currency Comments (W)
Trump Says Dollar to Strengthen, Mnuchin ‘Taken Out of Context’ (B)
The Treasury Doesn’t Need a Dollar Policy (B)

Central banks
Draghi view of ECB easing strategy under scrutiny (FT)

US
Rising Oil Prices Are Helping Drive the U.S. Business-Investment Rebound (W)

China
China’s real deleveraging date will have to wait (FT)
Deal-hungry HNA shows signs of financial distress (FT)

US tax reform
The Tax Law, Just One Month Old, Is Roaring Through U.S. Companies (W)
Airlines Reap Benefits of High Travel Demand, Tax Cuts (W)
Home Depot to Dole Out $1,000 Bonuses to Workers After Tax Cut (B)
Starbucks is spending $120 million to address baristas’ complaints and raise wages in a move ‘accelerated’ by the new tax law (BI)
NYS Senate Approves Bill Decoupling State from Federal Tax Code (NYSSCPA)

US politics
One Way Trump Aims to Get More Infrastructure Built: Faster Approvals (W)
Trump’s NASA Budget: More Moon, Less Space Station (W)

Geopolitics
Trump opens door to US rejoining TPP (FT)
South Korea challenges US tariffs at the WTO (FT)
Trump Says Palestinians Must Return to Peace Talks to Get U.S. Aid (W)

Industries & companies
Autos: Fiat Chrysler’s Income Soars in Latest Quarter (W)
FAANGs: The Race Is on for the First $1 Trillion U.S. Company (W)
FAANGs: Apple commissions series from ‘La La Land’ director (FT)
Health Care: The Strong Case for Health-Care Spinoffs (W)
Industrials: Caterpillar Reports Robust Sales as Global Recovery Continues (W)
Tobacco: Big Tobacco Has a Lot Riding on FDA’s Stance Toward the Latest Cigarette Alternative (W)

Technology
Pinworm-Sized Robot Marks a Step Toward Using Devices Inside Humans (W)

Cryptocurrency
Switzerland embraces cryptocurrency culture (FT)
Silicon Valley investors set to back Telegram ICO (FT)

Offbeat
Millennials are flocking to cryptocurrency and cannabis stocks, TD Ameritrade CEO says (AMTD)