Wednesday, May 31, 2023

Wednesday Evening Links

[Reuters] Wall St falls as labor data spurs rate hike jitters before debt ceiling vote

[Reuters] US rate futures expect Fed pause in June in sharp turnaround from earlier

[Yahoo/Bloomberg] Treasury Cash Pile Hits New Low as Debt Wrangling Persists

[Politico] McCarthy tries to hold off last-minute rebellion over work requirements in debt deal

[Reuters] U.S. banks sink on concerns about office real estate loans 

[Reuters] A June skip jumps to the fore following latest Fed comments

[Yahoo Finance] Fed Beige Book: Pace of hiring and pricing is slowing

[Reuters] U.S. economy little changed, outlook 'deteriorated': Fed survey

[AP] Earth is ‘really quite sick now’ and in danger zone in nearly all ecological ways, study says

[WSJ] Fed Prepares to Skip June Rate Rise but Hike Later

[FT] Business and markets rattled by uncertainty in China

[FT] US-China tensions have upended global order, Jamie Dimon warns

Wednesday Afternoon Links

[Reuters] Wall St falls on Fed hike jitters ahead of debt ceiling vote 

[Reuters] US debt ceiling bill set for tight vote in House

[Reuters] US labor market still tight as job openings rise, layoffs fall

[Yahoo Finance] FDIC: Q1 deposit decline for US banks was largest in 39 years

[Yahoo Finance] Cleveland Fed's Mester sees no 'compelling' reason to pause rate hikes: Report

[Reuters] Fed's Jefferson says skipping rate hike would not mean tightening over

[Reuters] Default wave imminent, will peak in 2024, Deutsche Bank says

[AP] Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

[Reuters] Prigozhin asks prosecutors to probe 'crime' by top Russian defence officials

[Bloomberg] US Job Openings Surge to 10.1 Million, Upping Odds for Fed Hike

[Bloomberg] Fed’s Bowman Says Real Estate Rebound Hurts Inflation Fight

[WSJ] A Debt-Ceiling Deal That Doesn’t Deal With Debt

[FT] US bank failures stretch deposit insurance fund

[FT] Falling German and French inflation lifts hopes of an end to eurozone rate rises

Wednesday's News Links

[Yahoo/Bloomberg] Stocks Fall on China Economy Worries; Bonds Gain: Markets Wrap

[Yahoo/Bloomberg] Chinese Stocks Sinking Into Bear Market With Little Relief Seen

[Yahoo/Bloomberg] Oil Extends Slump as Chinese Data Threatens Demand Outlook

[Reuters] US debt ceiling bill faces narrow path to passage in House

[AP] Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval

[Politico] Senate braces for last-minute conservative demands on debt deal

[Yahoo/Bloomberg] Biden-McCarthy Debt Limit Deal Puts Government Services on a Diet

[CNBC] Mortgage demand drops to the lowest level in three months

[Yahoo/Bloomberg] US Mortgage Rates Hit Near Seven-Month High During Debt Impasse

[Yahoo/Bloomberg] Summers Sees Higher Fed Interest Rates, Increased US Taxes

[AP] CEOs got smaller raises. It would still take a typical worker two lifetimes to make their annual pay

[Yahoo/Bloomberg] China Manufacturing Slump Heightens Risk of ‘Downward Spiral’

[Reuters] China's factory activity falls faster than expected as recovery stumbles

[CNBC] New warning signs emerge for China’s property market

[Yahoo/Bloomberg] Everywhere You Look in China Are Signs of More Market Misery

[Reuters] Analysis: Struggling China local governments find a fundraising loophole, lifeline in "pearl bonds"

[Yahoo/Bloomberg] China Leads the World in Preparing for Extreme Weather Threats to Power Supplies

[Reuters] BOJ normalisation could strain global bond markets: ECB

[Yahoo/Bloomberg] BOJ to Hold Policy Amid Election Chatter, Ex-Board Member Says

[Reuters] Drones attack Russian oil refineries near major oil port Novorossiisk

[Reuters] Russia accuses Washington of encouraging Ukraine in its attacks

[Yahoo/Bloomberg] ECB Warns Rate Hikes Are Putting Market Stability at Risk

[Reuters] North Korean satellite plunges into sea after rocket failure

[Bloomberg] China’s Home Sales by Top Developers Slow as Rebound Falters

[WSJ] Debt-Ceiling Bill Faces Test as Some GOP Critics Vent

[WSJ] U.S. Manufacturers Seek China Alternatives as Tensions Rise

[WSJ] China’s Recovery Slows Further as Factory, Services Activity Pulls Back

[FT] Top Fed official sees no ‘compelling’ reason to wait for fresh rate rise

[FT] Bank of Japan policy shift risks causing eurozone bond turmoil, warns ECB

[FT] Has China become too cosy with private equity?