Tuesday, May 2, 2023

Wednesday's News Links

[Reuters] Stocks climb out of the red as traders wait on the Fed

[Yahoo/Bloomberg] US Regional Banks Slump as Rout Deepens on First Republic Flop

[Yahoo/Bloomberg] Oil Sinks Below $70, US Regional Bank Rout Deepens: Markets Wrap

[Reuters] Economic risks buoy gold above $2,000 as Fed verdict nears

[CNBC] Private payrolls surged by 296,000 in April, much higher than expected, ADP says

[CNBC] Mortgage demand drops as bank failures hit jumbo loan rates

[AP] Rising turmoil is making Fed’s rate decisions more perilous

[Reuters] Fed likely to hike rates, hint at pause in tightening cycle

[Reuters] PNC promises up to $15 bln in short-term debt to provide additional liquidity

[Yahoo/Bloomberg] Bank Pain Is Just Getting Started, Ex-Fed President Kaplan Says

[Reuters] Top US CEO pay rose 7.7% last year, outpacing inflation, study finds

[Yahoo/Bloomberg] China Isn’t Going to Save the World This Time, Macquarie Says

[Yahoo/Bloomberg] Copper Mine Flashes Warning of ‘Huge Crisis’ for World Supply

[Yahoo/Bloomberg] Ukraine Grain Deal Talks Set as Russia Threatens to Exit Pact

[Reuters] Iran seizes second oil tanker in a week in Gulf -U.S. Navy

[Yahoo/Bloomberg] China, Russia Fall Further Down World Press Freedom Index

[NYT] What to Watch at the Fed’s May Meeting

[FT] Federal Reserve poised to implement another quarter-point rate rise

[FT] Three failed US banks had one thing in common: KPMG

[FT] Washington signals support for South Korean chipmakers in US battle with China

[FT] US investor interest in China cools as political tensions grow

Tuesday Evening Links

[Reuters] PacWest, Western Alliance shares tumble as US regional bank fears persist

[Reuters] Indexes fall 1% as regional banks tumble, investors fret before Fed

[Yahoo/Bloomberg] Oil Drops as Product Prices, Chinese Data Highlight Weak Demand

[Reuters] Explainer: How the Fed might act in a U.S. default

[Yahoo/Bloomberg] Druckenmiller Warns US Debt Crisis Worse Than He Imagined

[Bloomberg] Canyon’s Friedman Sees ‘Carnage’ for Some Real Estate Sectors

[Bloomberg] Carl Icahn’s Wealth Plunges $10 Billion on Hindenburg Short-Seller Report

[WSJ] With Fed Set to Raise Rates, Executives Watch Consumers for Signs of Stress

[FT] First Republic rescue fails to arrest slide in US regional bank shares

Tuesday Afternoon Links

[Yahoo/Bloomberg] Wall Street Rattled by 20% Plunge in Pair of Banks: Markets Wrap

[Yahoo/Bloomberg] PacWest, Western Alliance Lead Regional Bank Stock Rout

[Yahoo/Bloomberg] Traders Zero In on June US Default Risk, Push Yields Over 5%

[AP] Bank stocks continue to fall following First Republic demise

[Yahoo/Bloomberg] Inflation Has Firms Using Derivatives to Lock In Funding Costs

[WSJ] Treasury Chief Janet Yellen Says U.S. Risks Default as Soon as June 1 Without Debt Ceiling Increase

[WSJ] What a Fed Debate 17 Years Ago Reveals About Its Rate Deliberations Now

[WSJ] Tight Supply Fuels Demand for Newly Built Homes

[FT] First Republic rescue fails to arrest slide in US regional bank shares