wiar 07-13-18

Mary FanslauWhat I Am Reading

July 13 (Friday)

Markets
Cramer argues that this rally is ‘all about China blinking’ in the trade war (C)
Just try to find a stock market year like 2018, because you won’t (C)
China’s Rising Defaults Bring More Safeguards to Yuan Bonds (B)
Emerging Market Sell-Off Is Only Going to Get Worse, Survey Says (B)

Central banks
Fed Chair Jerome Powell Says Trade Policies Complicate Outlook (W)
Fed’s Harker Says Inflation Will Determine Whether There Are Three or Four Rate Increases in 2018 (W)
Morgan Stanley expects the inverted yield curve — harbinger of recession — in 2019 (MW)

US
Inflation Is Eating Away Worker Wage Gains (W)

China
China’s Effort to Control Debt Loses Steam (W)

US politics
US Commerce Secretary Wilbur Ross says he will sell all of his stocks, buying Treasurys (C)

Geopolitics & trade
Trump Commits to NATO, Pushes Allies on Defense Spending (W)
Explaining NATO’s 2% Target (W)
Trump Says He Expects to ‘Get Along’ With Putin at Summit (W)
Mnuchin Plays Down Impact of Tariffs (W)
Trump’s tariffs are unlikely to cause a recession because they are leaving the most important part of the economy alone[: demand] (C)
P&G Says Tariffs Won’t Hit Most of Its Goods Made in China, EU (B)

Industries & companies
Consumer: J&J Ordered to Pay $4.14 Billion Punitive Damages (B)
FANGs: SEC Probes Why Facebook Didn’t Warn Sooner on Privacy Lapse (W)
FANGs: Apple announces $300 million clean energy fund in China (C)
Financials: Walmart in Talks to Move Credit-Card Partnership to Capital One (W)
Tech: PC Shipments Have Strongest Quarter in Six Years (W)

Corporate finance
U.S. Appeals Ruling Allowing AT&T-Time Warner Merger (W)
Broadcom Shares Sink as Latest Deal Puzzles Wall Street (W)

Technology
All Ears: Always-On Listening Devices Could Soon Be Everywhere (W)