Financial Markets and Economy
The Fed Is Losing Control of Monetary Conditions (Bloomberg View)
The Federal Reserve's next monetary policy decision, scheduled for Sept. 21, will be a non-event, according to the futures market, with about an 80 percent chance that the central bank will leave interest rates unchanged. But the unintended consequence of a rule change involving U.S. money-market funds means borrowing costs in the real world are already surging by enough to produce tighter monetary conditions even if the U.S. central bank sits on its hands.
U.S. Index Futures Little Changed as Investors Await Jobs Report (Bloomberg)
US stock-index futures were little changed as investors awaited government payrolls data for clues on the health of the economy.
Oil prices dip as short covering rally fizzles out (Business Insider)
Oil prices eased in early trading on Friday, but remained well above this week's lows as traders covered short positions after profiting from sharp declines since June.
‘Pick another fight’ — don’t battle the U.S. stock market’s rally, Citi says (Market Watch)
A recent record high, expensive valuations and rising political uncertainty — lots of signals are screaming “sell” for the S&P 500, but analysts at Citigroup instead recommend staying invested in U.S. stocks.
Goldman Sachs Global Co-Head of Energy Maxwell Said to Depart (Bloomberg)
Goldman Sachs Group Inc.’s global co-head for energy investment banking, Alastair Maxwell, has retired from the U.S. lender, according to an internal memo seen by Bloomberg News.
Dollar Becalmed as Traders Await Monthly U.S. Labor Report (Bloomberg)
A gauge of the dollar halted a two-day gain before the U.S. Labor Department releases its latest monthly jobs report, a key indicator of how the economy is performing.
U.S. stocks set for gains as traders brace for upbeat jobs report (Market Watch)
Wall Street was gearing up for a mildly positive trading day on Friday, with stock futures tilting higher ahead of what is expected to be a fairly solid U.S. jobs report.
No One Told Brazil Markets That Rio Olympics Would Be a Disaster (Bloomberg)
The gloom surrounding the Olympic Games getting underway Friday in Rio de Janeiro is nowhere to be seen in the countrys financial markets.
China's Ugly Duckling Industry Bonds Turn Into Swans on Support (Bloomberg)
China’s ugly duckling industrial bonds have been looking a bit more like swans amid stronger support from the nation’s government. Analysts are questioning whether the transformation will last.
Cash Flies Commercial and Other Secrets of Moving Money (Wall Street Journal)
Even in an age of electronic money and digital-payment apps, there is still big demand for cold, hard cash.
This Bond Sale May Solve Wall Street’s $566 Billion Problem (Bloomberg)
Bonds sold on Thursday could determine whether Wall Street banks stay in the $566 billion business of packaging commercial mortgages into securities.
U.S. Employment Seen Returning to Normal After Two Quirky Months (Bloomberg)
First it flopped, then it flipped. Now, economists are looking for U.S. payrolls growth to return in July to its 2016 average.
The jobs report leaves out a huge part of the economy (Business Insider)
The US jobs report excludes a huge part of the economy, even when the number of new payrolls trumps expectations.
The FTSE 100 just jumped to its highest level in more than a year (Business Insider)
The FTSE 100, Britain's benchmark share index, jumped to its highest level in a year on Friday morning as investors welcomed the Bank of England's huge new stimulus package, launched on Thursday afternoon.
$75 Billion Stock Binge Looms After Japan Pension Whales’ Losses (Bloomberg)
There’s no time like the present for Japan’s pension whales to buy stocks and sell local bonds, according to Bank of America Merrill Lynch.
`Helicopter Money' Is Coming to the U.S. (Bloomberg View)
Several years of rock-bottom interest rates around the world haven't been all bad. They've helped reduce government borrowing costs, for sure. Central banks also send back to their governments most of the interest received on assets purchased through quantitative-easing programs. Governments essentially are paying interest to themselves.
U.S. May Finally Get a Peek at the Books of Alibaba, Baidu (Wall Street Journal)
A long-running dispute between the U.S. and China over the ability to vet auditors of Chinese companies listed on American exchanges could be edging toward a breakthrough.
Big Pharma Eyes $7.2 Billion Down on the Farm for Superbug Risk (Bloomberg)
A sparkling and sprawling 48,000-square-foot two-story structure, decorated with artwork of animals etched onto interior glass walls, recently opened its doors 23 miles outside Indianapolis with one sole purpose: to keep the globe’s 70 billion farm animals healthy.
An Economy Awash With Liquidity That Is Not Sufficiently Reaching the People in the Real Economy (Jesse's Cafe Americain)
In other words, what we may be seeing here is a declining 'bang for the buck' or 'the law of diminishing returns' for the massive amounts of liquidity which the Fed has been selectively applying to the financial system using quantitative easing.
Politics
The Company That Donald Trump Keeps (Bloomberg View)
With Donald Trump's skeletal presidential operation navigating rough waters, how might he steer his ship back on course? He could try taking his own advice and begin building relationships with respected, trustworthy advisers and fellow politicians.
Technology
Troll hunters: the Twitterbots that fight against online abuse (New Scientist)
When Ghostbusters actor Leslie Jones was hounded off Twitter last month, having braved several days of racist and misogynistic abuse, many people decried the social network’s failure to enforce its policies. If a star of a Hollywood blockbuster can be treated like that, what hope is there for the rest of us? For some, such cases show it’s time for a new approach to dealing with online abuse.
Microsoft says it has two big Windows 10 updates planned for 2017 (The Verge)
Microsoft only started rolling out Windows 10's Anniversary Update this week, but it's already discussing future updates for the operating system. A new blog post detailing update changes for IT professionals sheds some light on Microsoft's plans for Windows 10. "This will be our last feature update for 2016, with two additional feature updates expected in 2017," says Microsoft's Nathan Mercer.
Health and Life Sciences
Cancer gene tests 'reveal family link' (BBC)
Scientists have discovered why some families are affected by many different types of cancer, thanks to genetic testing.
In tests on 1,100 patients affected by a rare cancer called sarcoma, more than half were born with gene mutations known to increase cancer risk.
Life on the Home Planet
Cambodia seizes 600 kilograms of ivory from Africa (Phys)
Cambodian customs Friday seized more than 600 kilograms of illegal ivory in a container packed with corn that had languished unclaimed at a port for two years after being shipped from Africa.
