wiar 02-06-18

Mary FanslauWhat I Am Reading

Feb 06 (Tuesday)

Markets
Dow Cuts Loss in Half After Falling 1,600 Points (W)
Stock Rout Shatters Years of Calm in Markets (B)
Wall Street vet Yardeni: Trump tax cuts will pull stocks out of their current tailspin (C)
Ray Dalio: Recent market declines are just ‘minor corrections,’ still lots of cash to buy the dip (C)
Falling Stocks and Rising Yields Aren’t the New Normal (B)
Trend-Following Quants Were Positioned for This Global Selloff (B)

Credit
Credit Markets to Stock Investors: Calm Down (W)
High-Grade Bonds Look Bulletproof With Spread Tightest in Decade (B)
There’s good news behind higher bond yields (FT)
Global Rout Takes Hold of Junk-Bond and Emerging-Market Funds (B)

Central banks
Stock Selloff Is Starting to Cast Doubt on Fed’s Rate Hikes (B)
Is the Fed’s Inflation Target Kaput? (B)
How Stimulus Made a Soft Landing Harder (W)
A New Perspective on Low Interest Rates (FRB-NY)

US
U.S. Service-Sector Activity Hits Decade-High (W)
GDPNow model forecast for real GDP growth (saar) in Q1 is 5.4% up from 4.2% (FRB-ATL)
First-Time Homebuyers Still Face Headwinds (FRB-SL)

Europe
Merkel, SPD Push Ahead in Government Talks After Missed Deadline (B)

Emerging
Samsung Saga Shows Korea Reform Is Going Nowhere (W)

US tax reform
ECB Sees Risk of Tax Race to the Bottom Following U.S. Reform (B)
Americans abroad hit by Trump’s repatriation tax rules (FT)

US politics
House Speaker Seeks to Keep Safety-Net Overhaul on GOP Agenda (W)

Geopolitics & terrorism
U.S. Says It Has Met Nuke Reduction Target Under Treaty With Russia (W)

Industries & companies
FAANGs: Amazon: Readers, Listen Up: Amazon is Shaking up the Audiobook Market (W)
Financials: Banks Double Down on Branch Cutbacks (W)
Financials: Wells Fargo Rebuke Puts Bank Boards in Fed’s Crosshairs (W)
Tech: Morgan Stanley: Tech stocks look ‘downright awful’ in market getting increasingly worried about ‘unhinged’ inflation (C)
Tech: Tech Giants Are in No Rush to Spend Overseas Cash (W)

Corporate finance
Broadcom Raises Offer for Qualcomm to Over $121 Billion (W)
M&A boom heightens fear of credit cycle nearing peak (FT)

Technology & cryptocurrency
HP Unveils New Color 3-D Printers (B)
Banks, Retailers, China Have All Turned On Bitcoin (F)

Offbeat
U.S. Farmers Are Producing Too Much Food. Here’s Why They Can’t Stop (W)