wiar 06-01-18

Mary FanslauWhat I Am Reading

June 01 (Friday)

Big Story
A little-known part of Italy’s constitution makes it almost impossible for the country to leave the euro (BI)

Markets
Global stocks drop as trade war worries resurface (FT)
Why Italian Markets Were Primed for a Blowup (W)
Italy turmoil accelerates outflows from Europe (FT)
Chinese shares to transform emerging market investing (FT)
A Calm Chinese Stock Market? It’s Engineered by the State (W)
Brent-WTI oil spread above $11 a barrel (FT)

Central banks
Brainard: Sustaining Full Employment and Inflation around Target (FRB)
Bond Traders’ Fed Wagers Now Hinge on Jobs With Italy Angst Fading (B)
Guts of Inflation Data Show Why Fed Hesitant to Declare Victory (B)

US
U.S. Consumer Spending Strengthened Further in April (W)

Europe
Italian Populists Strike New Deal on Coalition Government (W)
Italy’s president approves populist Rome government (FT)
Spain’s Rajoy Poised to Fall From Power (W)

Japan
Japan’s Fiscal Discipline Wavers as Aging Pressure Mounts (B)

Emerging
India’s Economic Expansion Outpaces Rival China (W)

Geopolitics & trade
U.S. Tariffs Raise Fear of Trade War (W)
Trump’s Tariff Assault Risks Sideswiping His Strongest Allies (B)
US fires first shot in trade war with allies (FT)
Canada Adds Inflatable Boats and Nail Polish to U.S. Trade Spat (B)
Trump Awaits Top North Korean Official Carrying Letter From Kim (B)

Industries & companies
Autos: GM Surges as Softbank Fund Invests in Its Driverless-Car Unit (W)
Autos: Alphabet’s Waymo Unit to Buy Up to 62,000 Chrysler Minivans (W)
FANGs: Google Proves Early Winner From New Data Privacy Law (W)
FANGs: Zuckerberg Faces Shareholders at Contentious Facebook Meeting (B)
Financials: Deutsche Bank’s U.S. Operations Deemed Troubled by Federal Reserve (W)
Retail: Sears Closing More Stores as Sales Continue Shrinking (W)
Tech: Now Fighting for Tech Talent: Makers of Turbines, Tools and Toyotas (W)

Offbeat
People are so obsessed with trading cryptocurrencies that a hospital just launched a program to treat addictive behavior (BI)
Driving-Fatality Tests Find Opioid, Pot Use Rising (W)