Thursday, June 1, 2023

Friday's News Links

[Yahoo/Bloomberg] US Stocks Gain On Strong Jobs Data; Dollar Dips: Markets Wrap

[Reuters] Dollar sags as Fed bets ebb, debt bill passes; Aussie soars

[Yahoo/Bloomberg] Oil Advances as Market Eyes Weekend OPEC+ Meeting in Vienna

[CNBC] Payrolls rose 339,000 in May, much better than expected in resilient labor market

[Reuters] Fed 'skip' chatter triggers dollar's biggest weekly fall since January

[Reuters] US Congress averts historic default, approves debt-limit suspension

[Yahoo/Bloomberg] BofA Says AI Frenzy Drives Record Inflows Into Tech

[Yahoo/Bloomberg] The Fed's Inflation Fight Faces a New Challenge: A Dry Panama Canal

[AP] US, Taiwan sign trade deal over China’s opposition

[Reuters] Arizona restricts Phoenix home construction amid water shortage

[Reuters] OPEC+ unlikely to agree bigger oil cuts on Sunday, sources say

[Reuters] BOJ's Ueda keeps free hand, says no time frame for achieving price goal

[Yahoo/Bloomberg] China Mulls New Property Support Package to Boost Economy

[Yahoo/Bloomberg] Investors Zero In on China Local Debt Blowup as Top Risk in Asia

[Reuters] 'Relentless' heatwaves scorch southern China, test power grids

[WSJ] As China Risks Grow, Manufacturers Seek Plan B—and C and D

[FT] Why America’s economic policy muddle matters

Thursday Evening Links

[Yahoo/Bloomberg] Big Tech Powers Stock Gains in Run-Up to Jobs Data: Markets Wrap 

[AP] Senate labors to stave off US default, wrap up Biden-McCarthy debt ceiling deal

[Yahoo/Bloomberg] The Treasury Is Bending Over Backwards to Avoid Breaching the Debt Cap

[Bloomberg] Fed’s Harker Says FOMC Should ‘at Least Skip’ June Rate Hike

[Yahoo Finance] Bank of America CEO says 'consumer spending has slowed down'

Thursday Afternoon Links

[Reuters] Wall St rises on debt ceiling deal cheer, hopes of Fed pause

[Yahoo/Bloomberg] Oil Rallies Alongside Risk Assets, Shrugs Off Stockpile Build

[Reuters] U.S. consumer outlook dims as upscale retailers, discounters slash forecasts

[Reuters] Fed 'close' to where it can hold rates steady, Harker says

[Yahoo/Bloomberg] Mortgage Rates in US Jump, Surging to Highest Since November

[Reuters] Semi shorts down $18 billion in mark-to-market losses in 2023, S3 Partners says

[WSJ] Could the Job Market Be Getting Better?

[FT] Tett: Why Wall Street is trying to shake up the 2024 race

[FT] How the US is deepening military alliances in China’s backyard

Thursday's News Links

[Yahoo/Bloomberg] Stocks Climb on Debt Deal, Softer Inflation Data: Markets Wrap

[Yahoo/Bloomberg] Oil Swings With Focus on China Factory Activity, US Debt Deal

[CNBC] Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says

[Dow Jones] Jobless claims inch up to 232,000, but no sign of major layoffs

[Reuters] US Senate aims for quick passage of debt ceiling bill to avoid default

[Reuters] US debt ceiling bill passes House with broad bipartisan support

[Reuters] McCarthy's moment: Debt ceiling win secures Republican US House speaker's standing

[Reuters] Analysis: US corporate debt binge could be hard to sustain

[Yahoo Finance] Auto loan delinquencies for young Americans at highest level since 2009

[CNBC] How inflation and higher interest rates have reshaped car buying for many Americans

[Reuters] China's factory activity swings to surprise growth in May - Caixin PMI

[Reuters] Foreigners pull more money out of China in May

[Reuters] Asia's factories struggle for momentum amid patchy recovery

[Reuters] Chinese graduates lower their ambitions in moribund jobs market

[Yahoo/Bloomberg] Euro-Area Core Inflation Eases But Won’t Stop ECB Hiking

[Reuters] Taiwan, U.S. to sign first deal under new trade framework

[WSJ] New Borrowing Hurdles Leave Small Businesses in Limbo

[WSJ] Libor’s Last Users Face Challenges as the Deadline for Its Demise Nears

[WSJ] Violent Clashes Trigger Fears of New War in Europe

[FT] Resilient junk bond market baffles investors

[FT] Watchdogs must ‘up their game’ to prevent future bank failures, says BIS

[FT] US defence chief warns incidents with China’s military could ‘spiral out of control’