Thursday, May 11, 2023

Friday's News Links

[Yahoo/Bloomberg] US Stocks Give Up Gains as Inflation Fears Flare: Markets Wrap

[Yahoo/Bloomberg] Oil Holds Two-Day Drop as Demand Concerns Offset SPR Refill Plan

[Yahoo/Bloomberg] US Consumer Long-Term Inflation Expectations Hit 12-Year High

[Reuters] Biden, McCarthy debt ceiling meeting postponed, spending cuts on table

[Reuters] Yellen: Still some uncertainty about when Treasury will run out of cash

[Yahoo/Bloomberg] Gold Looks ‘Best Hedge’ as Debt-Ceiling Angst Builds, RBC Says

[Reuters] Fed's Bowman: more policy tightening likely appropriate

[Yahoo/Bloomberg] Fed Needs More Hikes If Inflation, Labor Stay Hot, Bowman Says

[Reuters] G7 finance chiefs debate reducing supply chain reliance on China

[Yahoo/Bloomberg] ECB May Need to Tighten Further After the Summer, Nagel Says

[Yahoo/Bloomberg] China Housing Rebound Fizzling Shows Risks to Economic Recovery

[Reuters] Aviation leasing watchdog issues warning on India over plane repossessions

[Reuters] Erdogan rival accuses Russia of 'deep fake' campaign ahead of presidential vote

[Yahoo/Bloomberg] El Nino May Slash Thai Rice Crop and Spur Inflation Across Asia

[NYT] The Debt Ceiling Dispute Raises the Risks for ‘Risk-Free’ U.S. Bonds

[WSJ] Yellen Doubts Biden Administration Can Avoid Default Without Congress

[WSJ] Bond Selloff Adds to the Pressure on Regional Banks

[WSJ] $10,000 an Hour Bought Inside Line on China—and Now Risks Jail

[WSJ] U.S., Allies Weigh How to Further Punish Russia

Thursday Evening Links

[Reuters] Dow, S&P 500 fall with Disney; PacWest leads regional banks lower

[Yahoo Finance] PacWest stock plunges 23% after losing 9.5% of deposits last week

[Yahoo/Bloomberg] Traders Embrace Bonds as Recession Angst Builds: Markets Wrap

[AP] Debt limit fight: Biden meeting with Congress leaders put off until next week as staff talks proceed

[Yahoo Finance] Another downgrade of America’s credit rating might be coming

[Reuters] Big U.S. banks to pay billions to replenish failure fund

[Yahoo/Bloomberg] Ramaphosa Says South Africa Probing US Allegation That it Supplied Arms to Russia

[WSJ] Bond Selloff Adds to the Pressure on Regional Banks

[FT] Tett: The deflating credit bubble could hurt more than just the banks

[FT] FDIC to hit biggest US banks with $16bn bill for SVB clean-up

[FT] US fiscal alarm bells are drowning out a deeper problem

[FT] US urges ‘co-ordinated action’ by G7 against China’s use of economic coercion

Thursday Afternoon Links

[Reuters] Dow, S&P 500 weighed down by Disney; PacWest leads regional banks lower

[Yahoo/Bloomberg] Oil Slides Toward $70 as Demand for Physical Barrels Sags

[Reuters] US weekly jobless claims hit 1-1/2-year high; inflation subsiding

[Reuters] Deposit outflows after SVB collapse concentrated among 'super-regionals' - NY Fed study

[Yahoo/Bloomberg] What Happens If the US Treasury Runs Out of Cash? Here Are Yellen’s Options

[Reuters] Fed's Kashkari says tight monetary policy may be needed for 'extended' time

[Yahoo/Bloomberg] Wall Street Loads Up on Doom Hedges as Countdown to X-Day Begins

[Yahoo/Bloomberg] US Mortgage Rates Fall for Second-Straight Week, Dropping to 6.35%

[Reuters] JPMorgan CEO Dimon says bank is convening a 'war room' on debt ceiling

[Yahoo/Bloomberg] Citi Sees Companies Racing to Raise Cash as Debt Ceiling Nears

[Yahoo/Bloomberg] Blackouts Loom for Most of US in Extreme Summer-Heat Scenario

[Yahoo/Bloomberg] Europe’s Drought-Riven Future Is Here, Decades Earlier Than Expected

[Reuters] US envoy says Russian ship picked up arms in South Africa