Saturday's News Links

[Reuters] CBO sees US 2025 deficit flat at $1.9 trillion before any Trump tax changes

[Reuters] TikTok faces US ban deadline as users brace for fallout

[Yahoo/Reuters] Trump team plans wealth-fund revamp for federal agency, Bloomberg News reports

[Yahoo Finance] Trump will inherit a housing market creaking under the strain of high prices and high interest rates

[Yahoo/Bloomberg] China’s Record Capital-Account Outflows Pile Pressure on Yuan

[AP] Trump vowed to end the war in Ukraine quickly but Moscow and Kyiv are digging in before any talks

[Bloomberg] The Billionaires Flocking to Mar-a-Lago to Meet With Trump

[Bloomberg] LA’s Devastation Is Revealed as Fires Come Under Control

[Bloomberg] What LA’s Fires Mean for the City’s Housing Shortage

[NYT] TikTok to ‘Go Dark’ on Sunday for Its 170 Million American Users

[WSJ] U.S. Starts Maneuvers to Avoid Breaching Debt Limit, Putting Pressure on Congress

[WSJ] One Weapon China Is Reluctant to Deploy Against Tariffs: A Weaker Currency

[WSJ] The Year That Hedge Funds Got Their Mojo Back

[FT] Los Angeles after the fires: ‘You can only live in a disaster zone for so long’

[FT] US consumers ‘resilient and strong’ in face of high prices and interest rates

[FT] Biggest US banks notch up $142bn in profits in blockbuster 2024

[FT] Bond wobble underscores allure of cash

[FT] Iran and Russia boost military and intelligence ties