wiar 12-19-18

Mary FanslauWhat I Am Reading

December 19 (Wednesday)

Markets
S&P 500 closes near its low for the year in volatile session on Wall Street (C)
Mnuchin Blames Volcker Rule, High-Speed Trading for Volatility (B)
Stan Druckenmiller Says Algos Are Robbing Markets of Trade Signals (B)
Crude Down Almost 40% From October (W)

Central banks
Smaller Fed Moves Have Bigger Market Impacts (W)
Fed’s 2019 Path May Produce Surprise That Flattens Yield Curve (B)
Caroline Baum: How the idea of the Fed ‘stockpiling ammunition’ could blow up the economy (MW)

US
U.S. Housing Starts Grew in November (W)
Mnuchin Dismisses Flatter Yield Curve as Sign of Weak Economy (B)

Europe
Brexit Revote? Calls for a Second Referendum Grow Louder (W)

China
China’s Economic Reforms Are Having a Midlife Crisis (B)

US politics
Flynn Sentencing Is Delayed After Judge Admonishes Him (W)
Trump Foundation to Dissolve Amid Allegations of Misusing Funds (W)
Here Are All the Headlines From Mnuchin’s Bloomberg Interview (B)

Geopolitics & trade
Mnuchin Says China and U.S. Planning for Trade Talks in January (B)
How to Make the Trade War Even Worse (N)
Huawei to spend $2B over five years to beef up cybersecurity (N)

Industries & companies
FAANGs: ‘It’s Been a Rout’: Apple’s iPhones Fall Flat in World’s Largest Untapped Market (W)
Financials: Goldman Ignored Worrisome Signals in Malaysian Fund (W)
Logistics: FedEx tumbles after lowering earnings guidance, cites global trade slowdown (C)

Corporate finance
Tech Unicorns Are Going Public at Near-Record Pace (C)
Stock buybacks hit a record $1.1 trillion, and the year’s not over (C)
FedEx Starts Buyout Program as Express Struggles (W)

Technology
Europe Tackles Chinese Competition With Investment in Microelectronics (W)

Offbeat
One of the first crypto millionaires says bitcoin is ‘dead’ (N)
The Financial System Should Be Less Than Half The Size of Today (F)