26 May 2016



Today’s Issue Cluster: US Health Insurance

US – More Young Adults Now Live With Parents Than Partners
Cigs – Tax rates on roll-your-own tobacco and pipe tobacco diverge
Oil – Militants again blowing up Nigeria’s pipelines


MAJOR DATA POINTS

US – Apr: Capital Goods Orders Fall; non-defense -0.8%, total +3.4% / B / WSJ
US – Apr: NAR pending home sales surge to a 10-year high; +5.1% / MW
US – Week: Jobless claims fall; -10k to 268k / R / WSJ


MARKETS

World – Half Embrace Bull Market on Fed-Fueled Rally B *


ECONOMICS

US – US productivity slips for first time in three decades FT *

US – Household borrowing nears precrisis peaks WSJ *

US – Consumer Reliance on Credit Cards Reaches New Low / B *


POLITICS & FISCAL POLICY



MONETARY POLICY



FINANCE

US – Big Banks Ladle On the Risk WSJ *


REAL ESTATE

US – Chinese Investors Pour Money In WSJ


LABOR & EDUCATION

US – More Young Adults Now Live With Parents Than Partners B *


SERVICES

Cigs – Smoking drop correlates with rise of obesity wapo *

Cigs – Tax rates on roll-your-own tobacco and pipe tobacco diverge mr *

Cigs – UK dull packaging will not end strong returns FT *

Cigs – Soaring Tobacco Prompts Calpers to Reconsider Strategy WSJ *

Cigs – Indian Firms Halt Output as They Fight New Warning Labels WSJ


MANUFACTURING

Chemicals – Bayer’s Room to Raise Monsanto Bid Looks Limited WSJ

Chemicals – Bayer courts environmental bogeyman FT * *


TECH



TRADE & TRANSPORTATION

TPP – Obama Reasserts Hope for Passage This Year WSJ

TPP – Ten Winning and Losing Industries WSJ

TPP – Trade pitch turns Obama into salesman for Vietnam shoes McC


COMMODITIES



ENERGY & ENVIRONMENT

Oil – Breaks through $50 for first time in 2016 FT / R *

Oil – What Comes After $50 WSJ *

Oil – Militants again blowing up Nigeria’s pipelines B *

Oil – Iran’s Deals Hit Banking Snag WSJ *

Oil – Iraq struggles to match January’s record production FT

Oil – Opec’s Ability to Ease A Supply Shock is Now Fading WSJ *


HEALTH

Insurance – Companies Seek Big Premium Boosts WSJ *

Insurance – Companies Struggle to Offset New Costs WSJ

Insurance – Aetna Not Withdrawing From Any Exchange States WSJ

Insurance – Options Dwindle in Some Rural Regions WSJ *

Insurance – CO Weighs Universal Coverage NYT

Insurance – Obama Wrongly Repaying Funds to Insurers, Judge Says WSJ / NYT / R / NYT


ENDNOTE

57% of Homes in SF are Worth Over $1m vc *


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