wiar 02-03-18

Mary FanslauWhat I Am Reading

Feb 03 (Saturday)

Markets
Surging rates won’t hurt rally, thanks to ‘extraordinary’ earnings impact from Trump tax cuts, says Ed Yardeni (C)
Dow Plunges 666 Points as Rate Angst Sinks Bonds: Markets Wrap (B)
All 11 S&P Industries Plunge (B)
This chart shows what tends to happen to markets after a big plunge in the Dow like this (C)

Central banks
Expecting the Expected: Staying Calm When the Data Meet the Forecasts (Williams, FRB-SF)

US
U.S. Adds 200,000 Jobs; Wage Growth Best Since Recession (W)
Wage Growth Looks Great, Especially for Managers (W)
U.S. Wage Acceleration Looks Real, at Least in Certain Sectors (B)

Europe
German coalition deal close, says Merkel ally (FT)

US politics
Republicans Pin Midterm Hopes on Tax Cuts (W)
Inside the FBI Lives of Peter Strzok and Lisa Page, as Told in Text Messages (W)
Memo Escalates Russia Probe Clash (W)
Republicans say FBI improperly spied on Trump aide (FT)
The Memo Is Neither ‘Treasonous’ Nor ‘Worse Than Watergate’ (B)

Geopolitics
Trudeau Warns He Is Ready to ‘Walk Away’ From Nafta Talks (W)

Industries & companies
Consumer: Big brands lose pricing power in battle for consumers (FT)
Energy: Exxon, Chevron Fall Short Despite Rising Prices (W)
Financials: Deutsche Bank Posts Big Loss on Weak Trading, Tax Charge (W)
Financials: Wells Fargo Banned From Growing by Fed After Repeat Scandals (B)
Wireless: Sprint to Launch 5G Network in 2019 (W)

Corporate finance
Dell Confirms Plan to Look at IPO, VMware Business Combination (W)

Cryptocurrency
Bitcoin Is Falling Fast, Losing More Than Half Its Value in Six Weeks (W)
Bitcoin Ban Expands Across Credit Cards (B)