Wednesday's News Links

[Bloomberg] U.S. Stocks Drift Lower Before Fed; Dollar Rallies: Markets Wrap

[Bloomberg] Oil Trades Near $68 Before U.S. Stockpile Data, Iran Decision

[Bloomberg] The Fed Has a Tricky Inflation Issue to Navigate

[Bloomberg] U.S. Lifts Debt Sales as Deficit Grows, Plans 2-Month Bills

[CNBC] Private payrolls grow by 204K in April vs. 200K est.: ADP/Moody's Analytics

[Bloomberg] U.S. Factories Are Showing Signs of Buckling From Demand Surge

[Reuters] U.S. trade chief says NAFTA approval on 'thin ice' without deal soon

[Reuters] China April factory growth edges up marginally, export orders shrink: Caixin PMI

[Bloomberg] China Is Weakening Its Currency Before U.S. Trade Talks Begin

[Reuters] Ghosts of tantrums past trigger first emerging market outflows since 2016: IIF

[Bloomberg] Lippmann of Big Short Fame Says Corporates Will Cause Next Pain

[Bloomberg] Chinese state media has a message for the US ahead of trade talk in Beijing

[NYT] Will the Fed Offer Clues About Rate Increases? Here’s What to Watch

[NYT] Xi Tightens His Grip, and China’s Tech Giants Feel the Squeeze

[NYT] The U.S. and China Are Finally Having It Out

[WSJ] Trump’s Busy Trade Agenda Brings Tensions

[WSJ] Delayed or Not, Tariffs Are Already Squeezing U.S. Companies

[WSJ] Why Central Banks’ Dominion Over Markets Is Here to Stay

[FT] Investors face tough summer as 10-year yields diverge

[FT] US trade tussle with China is actually about technology

Tuesday Evening Links

[Bloomberg] U.S. Industrials Slump as Factory Expansion Slows: Markets Wrap

[CNBC] Fed could surprise markets and change investors' minds on how many rate hikes are coming

[Bloomberg] Apple Beats Sales Estimates; Shares Rise

[CNBC] March home prices make their biggest jump in 4 years—and half of the biggest housing markets are now overvalued

[Bloomberg] Ross Softens Expectations for a U.S.-China Trade Deal This Week

[Reuters] Debt funds lever up as fund financing grows

[Bloomberg] Turkey Cut Deeper Into Junk by S&P on Risk of ‘Hard Landing’

[NYT] Europe Is Annoyed, Not Grateful, After Trump Delays Tariffs