Financial Markets and Economy
World's Biggest Debt Market Faces Huge Test From Trump (Bloomberg)
President Donald Trump is a man obsessed by imports, and untroubled by exports.
Since he first hit the campaign trail, Trump has been squarely focused on boosting domestic production by limiting cheap imports from places like China and Mexico and replacing them with homegrown offerings.
European Stocks Climb With Banks Leading Gain on Yellen Comments (Bloomberg)
European stocks rose, heading for their longest winning streak in 18 months, as they joined a global equity rally fueled by Federal Reserve Chair Janet Yellen’s stance that more interest-rate increases would be appropriate if the world’s largest economy stays on course.
China's Inflationary Sweet Spot Propels Rocketing H Shares (Bloomberg)
Chinese shares listed in Hong Kong have roared back to a 15-month high, bolstered by signs the central bank’s money-market tightening is yet to impact bank lending, with a gauge of new credit at a record in January.
A Top Bond Strategist Looks at Stocks and Recoils (Bloomberg)
I am solely a U.S. interest rate strategist, so it is with no shortage of anxiety that I dare delve into the equity market, which hit new highs again today. I’m typically bullish on bonds and bearish on stocks, so what follows panders to a career bias.
Morgan Stanley Sees a Bright Decade for China Stocks (Bloomberg)
It may not be a smooth ride, but investors who jump into Chinese equities and hold on for the long term will end up happy, according to Morgan Stanley.
U.S. Eyes New Tactic to Press China (The Wall Street Journal)
The White House is exploring a new tactic to discourage China from undervaluing its currency to boost exports, part of an evolving Trump administration strategy to challenge the practices of the U.S.’s largest trading partner while stepping back from direct confrontation.
This $2.5 Trillion Index Wants to Wave Goodbye to Foreigners (Bloomberg)
The London Stock Exchange Group Plc’s FTSE Russell is proposing changes to how it assigns nationality to firms on its global equity indexes. These benchmarks include the 2 trillion-pound ($2.5 trillion) FTSE 100 Index.
China Mulls Resuming Coal Output Curbs for Six Months (Bloomberg)
China, the world’s biggest producer and consumer of coal, is considering reinstating output restrictions to avoid the return of a glut after easing limits during winter. Shares in the country’s coal miners jumped along with futures prices.
European stocks stomp toward highest close since 2015 as banks rally (Market Watch)
European stocks pushed higher for a seventh straight session on Wednesday, with banks leading the gains after Federal Reserve Chairwoman Janet Yellen sparked a rally in financial stocks by hinting U.S. interest rates soon will go higher.
Dollar pauses after Yellen-inspired push higher (Market Watch)
The dollar was flat against the yen and euro on Wednesday, after rising on hopes for higher U.S. interest rates following comments from Federal Reserve Chairwoman Janet Yellen who signaled an increase could come in March.
U.K. Unemployment Falls as Jobs Market Nears `Full Capacity' (Bloomberg)
U.K. unemployment declined and a measure of the number of people in work rose to a record, pushing the labor market closer to “full capacity,” according to the statistics office.
Should Stocks Be Worth More Now Than They Used To Be? (The Irrelevant Investor)
Stocks are not cheap. The CAPE ratio is 28.46, above the long-term average of 16.73 and more expensive than 96% of all readings. But exactly how expensive are they, and what might this mean for future returns?
The JC Stock Market Breadth Indicator (All Star Charts)
Today I wanted to talk about something that I’ve never really written about here before but I think is a really important point that I want to make sure I get across.
The Rise and Fall of a K Street Renegade (The Wall Street Journal)
Few outside Washington had ever heard of Evan Morris. Yet in the capital of wheeling and dealing, he was one of its most gifted operators.
The 5 Most Insane Quotes Against the Fiduciary Rule (A Teachable Moment)
The opinions found on social media can be a dark jungle of misinformation and lies. This is not a surprise, based on the following facts
Greatest Stock Picker Of All Time: Buffett Or Lynch? (Alpha Architect)
A few years ago, I asked this question of a mentor and friend. His answer surprised me. Without a moment’s hesitation, he replied that it was Peter Lynch.
Companies
Credit Suisse flags 6,500 job cuts in 2017 after $2.4 billion loss (Reuters)
Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no longer include floating the bank's Swiss business.
Cigna moves to terminate merger with Anthem and seeks $14.8 billion (Los Angeles Times)
Health insurer Cigna Corp. announced Tuesday that it will unilaterally terminate its $54-billion merger agreement with Anthem Inc. after a federal judge rejected the deal. The news came hours after insurance giants Aetna Inc. and Humana Inc. announced a mutual decision to abandon their $37-billion merger agreement.
Ford says U.S. and China need to work together on trade (CNN Money)
President Donald Trump has threatened to confront China on trade, but one of America's corporate icons doesn't expect things to get ugly.
U.S. Court Gives Initial Approval to Volkswagen Vehicle Emissions Settlement (The Wall Street Journal)
Volkswagen AG won a U.S. court’s initial blessing Tuesday for a roughly $1.2 billion settlement reached with drivers of larger diesel-powered vehicles affected by the auto maker’s diesel-emissions scandal.
Technology
Apple spent $2.8 billion (£2.2 billion) on research and development in its most recent quarter, and $10.39 billion (£8.36 billion) through 2016, according to its fourth quarter earnings report.
HTC will launch mobile VR device as follow-up to Vive (CNet)
The new device will be compatible with HTC's new flagship smartphone, the U Ultra. But HTC says it won't be just a simple headset like Samsung's Gear VR.
Can Artificial Intelligence Predict Earthquakes? (Scientific American)
Predicting earthquakes is the holy grail of seismology. After all, quakes are deadly precisely because they’re erratic—striking without warning, triggering fires and tsunamis, and sometimes killing hundreds of thousands of people.
Jaguar and Shell partner for in-car fuel payments (Engadget)
Luxury automaker Jaguar Land Rover has partnered with Shell to make fueling up a touch more convenient. That's because everyone who owns a vehicle equipped with the company's InControl Apps will be able to pay for gas without ever leaving the driver's seat.
Politics
Russian lawmakers rush to the defense of Trump’s ex-national security adviser (The Washington Post)
Leading Russian lawmakers rushed to defend President Trump’s former national security adviser Tuesday after he resigned amid furor over his misleading statements to senior White House officials, including Vice President Pence, about his contacts with Russia.
Jakarta governor election likely to go to second round (The Guardian)
Initial results from Jakarta’s governor election, billed as a crucial test of Indonesia’s pluralism, indicate the tight race will go to a second round.
For GOP, A Dimmed Zeal FOr Investigations In Trump Era (Associated Press)
The Republicans' ardor for investigations and oversight, on display throughout the Obama administration, has cooled off considerably with Donald Trump in the White House.
Trump backs Middle East peace, even if not tied to two-state solution (Reuters)
U.S. President Donald Trump supports the goal of peace between Israel and the Palestinians, even if it does not involve the two-state solution, a senior White House official said on Tuesday.
Election in Indonesian capital heads for run-off after tense campaign (Reuters)
The race to become governor of Indonesia's capital was heading for a second round between the incumbent Christian and a Muslim former education minister after neither appeared to win a majority in a Wednesday election.
‘Real News’ Joins the White House Briefing Room (Politico)
Among the herd of reporters filing past an oil portrait of Hillary Clinton in the vaulted Center Hall of the White House on Monday afternoon walked Jim Hoft, publisher of the Gateway Pundit, a conservative blog founded at the outset of George W. Bush’s second term.
Flynn’s statements to FBI under scrutiny (Politico)
Just-ousted National Security Adviser Mike Flynn could be in legal trouble if his statements to the FBI about his contacts with Russia’s ambassador to the U.S. turn out to be inaccurate, lawyers said Tuesday.
Life on the Home Planet
Why America’s Tallest Dam Is Suddenly in Danger (Bloomberg)
Engineers are racing to lower water levels at Lake Oroville in northern California before storm clouds open up again Wednesday, adding new strain to the nation’s tallest dam.
28 People Swam Across the Dead Sea to Prove a Point About the Environment (Business Insider)
The Dead Sea is world-renowned for its extreme saltiness, which prevents lifeforms like fish and aquatic plants from living in it. Tourists from all over the globe flock to its shores to rub its mineral-rich mud on their skin and float in its buoyant water.
India Launches 104 Satellites And Creates New World Recors, Beating Russia (Newsweek)
India has launched 104 satellites from the Sriharikota Space Station in east India in one mission, beating Russia’s previous record of launching 37 satellites at once. The majority of satellites hailed from the United States, while just three were Indian.
2 Journalists Shot Dead In Dominican Republic During Facebook Live Stream (The Huffington Post)
Two radio journalists were shot dead in the Dominican Republic on Tuesday during a live broadcast streaming on Facebook, according to local media reports.
