Financial Markets and Economy
Oil market rattled by deadly Brussels blasts (Reuters)
Oil prices seesawed on Tuesday, rattled by investor nervousness after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold.
A suicide bomber blew himself up at Brussels airport on Tuesday killing at least 11 people and a further blast tore through a rush-hour metro train in the Belgian capital shortly afterwards, claiming 10 lives, public broadcaster VRT said.
What Happens When the U.S. Dollar Is No Longer A Hedge Fund Hotel? (Bloomberg)
Risks for a further squeeze lower for the greenback, says Bank of America.
Wall St. Declines After Attacks in Belgium (NY Times)
Stocks opened broadly lower, led by declines in travel-related companies following the attacks in Belgium. The deadly attacks at the Brussels international airport and at a subway station in the heart of the city weighed on European stock markets, though the scale of the retreat has been fairly muted.
Gold, Japanese yen lead gains as Brussels attacks spur haven demand (Market Watch)
Sovereign government bonds, precious metals and haven currencies all rallied Tuesday after lethal terror attacks in Brussels sent temporary shock waves through global financial markets.
The Fed's Credibility Dilemma (Bloomberg View)
Federal Reserve officials often use two words to summarize their plans for monetary policy over the next three years or so: "gradual normalization," meaning that interest rates will move slowly and in an upward direction. It's a phrase that could prove problematic if economic developments require a different response.
Futures fall as Brussels attacks spark safety concerns (Business Insider)
U.S. stock index futures were lower on Tuesday after explosions in Brussels sparked fresh geopolitical concerns and sent investors scurrying for safety.
What a ban on some 300 drugs in India means for investors and companies (Quartz)
On March 10, the Central Drugs Standard Control Organisation (CDSCO)—an Indian drug regulator—banned 344 drugs (pdf) in the country. The notification said that these drugs can’t be made, sold or distributed in the country. These medicines are fixed dose combinations, which means they are made by mixing two or more drugs.
Immigrants Founded 51% of U.S. Billion-Dollar Startups, Study Says (Wall Street Journal)
A new nonpartisan study on entrepreneurship gives some credence to the tech industry’s stance that American innovation benefits from robust immigration.
This is the best description we've seen of the affliction plaguing the bond market (Business Insider)
People are worried about bond-market liquidity.
Wall Street executives complain about the dearth of liquidity so often that Bloomberg's Matt Levine has a section in his daily email dedicated to detailing their gripes.
With Board Member Who Won't Leave, Valeant Is at Mercy of Bylaws (Bloomberg)
Valeant Pharmaceuticals International Inc.’s former chief financial officer and current board member Howard Schiller has been accused by the embattled drugmaker of misconduct, and yet the one thing the company can’t get him to do is quit.
No Respite for Yahoo, Battling on 2 Fronts (NY Times)
The company is trying both to quell an activist insurgency and to explore selling itself at the same time. Either would be difficult alone.
New York Fed Had `Major Lapse' in Theft, Bangladesh Says (Bloomberg)
Bangladesh’s central bank has suggested the Federal Reserve Bank of New York had a “major lapse" in allowing hackers to transfer $101 million in transactions that it later flagged as suspicious, according to an internal document seen by Bloomberg.
New Market for U.S. Shale Gas Opens in Europe (Wall Street Journal)
Swiss petrochemicals giant Ineos Group Holdings SA plans to accept the first American shipment of a type of shale gas to Europe on Wednesday—a milestone that marks the opening up of a new market for American energy producers trying to sell a glut of the fuel.
Trade Deficits Come Due Someday (Bloomberg View)
In a recent interview on the EconTalk podcast, Massachusetts Institute of Technology economist David Autor said that a trade deficit represents a loan that has to be paid back.
Why the U.S. isn’t prepared for the next recession (Market Watch)
Are we ready for the next recession?
Far too many ordinary Americans might snort at such a question. We’re not out of the last one, the retort might go.
2 huge market-data giants announced a deal this week — here's what could go wrong (Business Insider)
Financial data giant IHS on Monday agreed to combine with its UK rival, Markit, in a $13 billion merger of equals.
A Wall Street big shot is trying to build a drone empire (Business Insider)
Measure, the drone-fleet company cofounded by Wall Streeter Robert Wolf, is launching a nationwide franchise operation.
Gold Trader at Heart of Turkey Graft Scandal Charged in U.S. (Bloomberg)
Reza Zarrab, a gold trader at the center of a bribery scandal that engulfed Turkey’s leadership more than two years ago, was charged by the U.S. of running a scheme to help the Iranian government launder hundreds of millions of dollars and evade economic sanctions.
Drillers Can't Replace Lost Output as $100 Oil Inheritance Spent (Bloomberg)
For oil companies, the legacy of $100 crude is starting to run dry.
Rise in Anglo American share price could offer chance to fill its coffers (Business Insider)
The doubling of Anglo American's share price since late January means the time could be ripe for a rights issue rather than an asset fire sale to boost its defenses against tumbling commodity prices, fund managers say.
The London-listed global miner has insisted it does not need to raise cash and that it plans to sell its iron ore, coal and nickel operations as part of a sweeping overhaul to raise $4 billion this year and cut net debt to $10 billion.
Politics
Democratic Party workers pore over videos in bid to hobble Trump (Reuters)
From the basement to the third floor of Democratic Party headquarters in Washington, dozens of election campaign workers are glued to screens playing back videos of Donald Trump and other Republicans, digitally documenting their policy positions on everything from torture to climate change.
The newly bulked up operation, including research, of more than 70 people is central to the Democrats' strategy to sink whoever the Republicans nominate to run for the White House in the Nov. 8 U.S. presidential election.
Obama intervened over crumbling Iraqi dam as U.S. concern grew (Reuters)
On Jan. 21, U.S. Secretary of State John Kerry met with Iraq's prime minister in Davos, Switzerland, and handed him a personal note from President Barack Obama pleading for urgent action.
The Three Faces of Republicanism (Bloomberg View)
As campaign strategists feverishly draw up battle plans for the next round of Republican primaries, and party chieftains discuss solutions to a possible deadlock, voters can be grateful. In contrast with the last several presidential nomination contests, this cycle is giving Republican voters clear and bold choices.
The three surviving candidates all have strong personalities and distinctive campaign styles. They also offer strikingly different yet coherent world views that draw on the party’s history and traditions. Each presents a different face of Republicanism.
U.S. Politicians React to the Attacks in Brussels (The Atlantic)
As Belgian officials scrambled to respond to attacks in Brussels Tuesday, American politicians scrambled to react to the attacks.
Republican candidates quickly delivered strong statements, promising a tough response to terror if elected. Though not as large as the November attacks in Paris, the carnage in Brussels could shake up the presidential race just as the killing spree in France did, and candidates jockeyed for position, just as voters in several states cast votes or caucus to select a nominee. Two Democrats in the race, meanwhile, were slower to respond.
Technology
This Robot Can Explore The Deep Seas For Half A Year At A Time (Fast Company)
Unmanned undersea vehicles (UUVs) have been a staple of sea exploration for years now, yet they've always had a limitation: They've needed constant support from a human crew on a surface ship above, which adds to the vehicle's costs. These UUVs have also either been required to be tethered to the support ship on the surface, limiting the UUV's range, or to return to it to charge its batteries, limiting how long it can explore the ocean depths and also requiring the support ship to follow nearby. But those limitations are about to be a thing of the past, thanks to Boeing's new UUV called the Echo Voyager, Wired reports.
Sun-Powered Plane Will Resume Its Round-The-World Flight In April (Popular Science)
The solar-powered plane attempted to fly around the world last year, but was stymied by battery trouble after a record-breaking trip across the Pacific last fall. The team decided to postpone the next leg of its journey, from Hawaii to Phoenix, until this year.
Now, with spring officially here and hours of sunlight steadily increasing in the Northern Hemisphere, the team is starting to prepare for takeoff. They team plans to begin heading to Phoenix sometime in April.
Health and Life Sciences
Row over HIV prevention drug Prep (BBC)
The medication- known as Prep – has been shown in UK studies to reduce the chances of people getting HIV.
Charities claim they had expected it to start being rolled-out later this year.
Testing Testosterone Treatments (Science-Based Medicine)
Ponce de Leon is said to have been looking for the Fountain of Youth when he explored Florida. That’s only a myth. Now there’s a new myth, that testosterone supplements are a Fountain of Youth for aging men. Men are urged to get their testosterone levels checked if they have any of a long laundry list of vague symptoms. Anti-aging clinics promote testosterone supplementation in many forms: prescription, bioidenticals from compounding pharmacies, natural remedies, testosterone boosters, and precursors.
Should I Take a Potassium Supplement? (NY Times)
Potassium is an electrolyte that the cells in your nerves and muscles, including the muscle of the heart, need in order to function. The recommended daily intake for adults is 4,700 milligrams, but many Americans fall short because we don’t eat nearly enough fruits and vegetables, said Sonya Angelone, a spokeswoman for the Academy of Nutrition and Dietetics. In addition, over-the-counter supplements contain such minute amounts of the mineral that they “are not really that helpful,” she said.
Life on the Home Planet
Brussels on Highest Alert Level After 31 Killed in Bombings (Bloomberg)
Belgium was on the highest terror-alert level after three bombings in Brussels on Tuesday killed at least 31, injured more than 180 and raised fears of follow-up attacks.
Prime Minister Charles Michel, condemning the deadliest terror attack on Belgian soil ever as “a violent and cowardly” assault, deployed Belgium’s military to secure the capital after two explosions at the airport and a bombing at a subway station a short walk from the European Union’s headquarters.
Our Water System: What a Waste (NY Times)
America has a water problem. To put it simply, the national network for providing safe, clean water is falling apart.
Could Sea Level Rise Swamp Cities within a Century? (Scientific American)
James Hansen says his new study released today shows that “all coastal cities” could be lost to rising oceans if people fail to reduce greenhouse gas emissions.
The controversial scientist released a draft study a year ago that found sea levels could rise by several meters within decades, triggering catastrophe and superstorms. Many scientists criticized the findings as unrealistic and questioned whether Hansen should have released a draft study that has not undergone peer review.
