Bz Nwz

Today’s Issue Cluster: Automated Vehicles

EU – Germans Fret Rate Cuts Are Fueling a Housing Bubble
Mobiles – Smartphone Downturn Going From Bad to Worse
Gold – Singer Says Rally Just Beginning as Goldman Sees Losses



MAJOR DATA POINTS

–



MARKETS

ECONOMICS

EU – Robust growth, falling prices: a contradiction explained FT *



POLITICS & FISCAL POLICY

EU – Eurozone May Avoid a Greek Crisis This Summer WSJ *

EU – Rosy Budget Outlook Tries to Tame Greek Debt B *

EU – Italy Migrant Route Now Busier Than Path Through Greece B *

EU – German Refugee Decline Shows Merkel’s Reliance on Turkey B *

EU – AfD Wedge: Bavarian CSU Weighs Split from Merkel’s CDU S

EU – AfD is already the 2nd party in east Germany / b *

EU – Podemos-IU up in Spain poll; majority reachable with PSOE / eldiario *



MONETARY POLICY

BOE – Doves Could Vote for a Rate Cut, Bank of America Says B *



FINANCE

REAL ESTATE

EU – Germans Fret Rate Cuts Are Fueling a Housing Bubble B *

UK – Do British housing markets suffer from market failure? e *

UK – London Home Prices See Parents Risking Finances to Help Kids B *

UK – Downbeat construction survey fuels fears for recovery FT *

UK – London Is Building More Offices Than Ever B / WSJ *



LABOR & EDUCATION

SERVICES

MANUFACTURING

AVs – Driverless cars could save lives, kill businesses R / R *

AVs – May lead to more crashes, says UK insurance group FT

AVs – Billions Are Being Invested in Unwanted Robot B *

AVs – GM, Lyft to Test Self-Driving Electric Taxis WSJ

AVs – Google, Chrysler In Deal WSJ / FT / R

AVs – Ford and GM split on the right road to self-driving cars FT

AVs – Internet-linked cars face hack threat, warns security expert FT

AVs – Google and car companies to spend billions mapping roads vox

AVs – ‘Cities Aren’t Ready for the Driverless Car’ wsj *

AVs – Innovators Summon The Spirit Of Steve Jobs IBD

AVs – Musk’s Secret Plan for a Self-Driving ‘Bus’ B

AVs – Rio Tinto’s driverless trains are running late FT



TECH

Mobiles – Smartphone Downturn Going From Bad to Worse B *

Mobiles – Are Smartphones Doomed to the Same Fate as PCs? B *



TRADE & TRANSPORTATION

EU/US – German Protests Threaten TTIP S *

EU/Mercosur – France leads revolt against trade talks FT *



COMMODITIES

Gold – Singer Says Rally Just Beginning as Goldman Sees Losses B



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Every European exit covered t *



Today’s Issue Cluster: Metals

China – National rail company ‘owes more than Greece’
Ads – Evolve Into New Forms as Media Landscape Shifts
Ship – Negative Rates Hit Global Market



MAJOR DATA POINTS

China – Apr: CPI Steady; +2.3% from +2.3% / WSJ

China – Apr: PPI Better Than Expected; -3.4% from -4.3% / FT *

Germany – Mar: Record Current-Account Surplus; +€30b from +€21b / B / AFP *

US – Mar: JOLTS Jobs Openings Increased; 5.8m from 5.6m / cr

US – Mar: Wholesale inventories break a losing streak; +0.1% from -0.6% / AP

US – Apr: NFIB Small Business Index Increased; 93.6 from 92.6 / cr



MARKETS

China – FX reserves up as Fed caution aids PBOC B *

China – Capital outflows persist despite FX reserves rebound FT *



ECONOMICS

China – National rail company ‘owes more than Greece’ AFP

China – Companies borrow to repay debts in latest credit binge FT *



POLITICS & FISCAL POLICY

MONETARY POLICY

World – Windfall for Central Banks Fuels Political Pressure WSJ *

World – ‘Running on Monetary Fumes’ cfr *



FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

Ads – Evolve Into New Forms as Media Landscape Shifts NYT

Ads – Privacy activist launches challenge to ‘ad blocker blockers’ FT

Ads – Websites Battle Faltering Revenue and Traffic NYT

Ads – TV Spending Shows Signs of Revival WSJ *

Ads – US election spending boon a welcome respite for TV groups FT *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

Ship – Negative Rates Hit Global Market B *

Ship – Panama Canal expansion exposes US infrastructure woes R

Ship – Once Bustling Ports Lose Steam WSJ *



COMMODITIES

China – Props Up Its Factories, Adding to Glut WSJ *

China – Commodities fall back to earth FT / WSJ / B * *

China – Retail investors throw global commodities into a tailspin FT *

Iron – China Futures Plummet, Obliterating Recent Gains WSJ *

Iron – In Free Fall as Port Holdings Expand B *

Iron – China’s easy money-fueled speculation is prime mover of prices WSJ *

Iron – ArcelorMittal Says Markets Are Stabilizing as Losses Narrow WSJ *

Copper – Freeport sells key mine for $2.7b to China FT / WSJ / FT *

Copper – Rio Approves $5.3b Oyu Tolgoi Mine Expansion B * *

Lithium – How It Defied the Global Commodities Rout WSJ *

Gold – Hedge Funds Take Bullish Gold Bets to Highest Since 2011 B *



ENERGY & ENVIRONMENT

Alt – US Utilities Boost Investments in Wind, Solar Power WSJ *

Alt – Solar Shares Plunge Even More Than Coal B *



HEALTH

ENDNOTE

Modern logos that look awfully similar to older logos bb *



Today’s Issue Cluster: US Labor

Tesla – Forecast Changes the Trajectory of an Entire Industry
Tesla – Oil Isn’t the Only Threatened Commodity
Oil – Opec Leaves Us Exposed to Shock



MAJOR DATA POINTS

China – Apr: Exports and imports fall; -1.8%, -10.9% / FT / B *

Germany – Mar: Foreign demand boosts factory orders; +1.9% from -0.8% / AFP *



MARKETS

Currencies – Bet On the Aussie Buck Bn *

Currencies – NK Can’t Stamp Out Its Unofficial Economy B *



ECONOMICS

SK – China awash with Korean Wave fever FT * *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Jobs Report Makes June Less Likely WSJ / WSJ

Fed – Lift-off sluggish E *

Fed – Trump Says He Would Replace Yellen WSJ / FT

Fed – Lack of conviction reflects negative mood FT *



FINANCE

REAL ESTATE

LABOR & EDUCATION

US – Early Warning Signs of Recession Flash Faintly in Jobs Data B *

US – Labor-force participation is rising again, at last E *

US – Anemic Wage Growth Restraining Economy WSJ

US – Faces big labor shortage, says business group FT *

US – Can Quick-Service Franchises Digest $15 Minimum Wage? IBD

US – Push for $15 Raises Pay—And Tensions WSJ *

US – Full-Time Hires Buck the Trend at Fast-Food, Retail Chains WSJ *

US – As Oil Rigs Shut Down, Job Pain Spreads Across Cities WSJ

US – Laid-Off Oil Workers Struggle to Pay Loans WSJ *

US – State Laws Against Mandatory Union Fees Are Growing B *

US – Rare Good News on the Retirement Front B *



SERVICES

MANUFACTURING

Tesla – Forecast Changes the Trajectory of an Entire Industry B * *

Tesla – Inside the Gigafactory That Will Decide Company’s Fate B *



TECH

TRADE & TRANSPORTATION

COMMODITIES

Tesla – Oil Isn’t the Only Threatened Commodity B *

Tesla – Shakes Up Market for Lithium, Other Metals WSJ *



ENERGY & ENVIRONMENT

Oil – Opec Leaves Us Exposed to Shock b *

Oil – Canada’s wildfires could blaze for months FT / R / WSJ / G&M *

Oil – New Saudi era ignites old questions FT / WSJ / B *

Oil – China Imports Rise as Teapot Refinery Demand Overwhelms Port B *

Oil – Discoveries slump to 60-year low FT

Oil – Billionaire’s Bargain Reveals Risks for Creditors B *

Oil – Large-Company Bankruptcies at Highest Level Since 2009 / b *

Oil – Drillers dig for the bottom for rig counts R / npr *

Oil – Rally May Boost Allure of Drilled-But-Uncompleted Wells B *



HEALTH

ENDNOTE

“Obviously not a bubble” twitter *



Today’s Issue Cluster: China

China – Lending Inflates Real Estate, Stocks, Even Egg Futures
Gaming – Macau Casino Revenue Drops Less Than Estimated
China – Great Commodity Bubble Loses Air Before It Can Burst



MAJOR DATA POINTS

US – Apr: Jobs report disappoints; +160k from +208k / FT / WSJ / NYT / R / B *



MARKETS

China – The $571b Debt Wall That Points to More Defaults B *

China – The credit boom is not reaching the real economy ft *

China – Unpaid bills add to debt problems FT *

China – Debt load reaches record high as risk to economy mounts FT / R *

China – Fizz goes flat, even with far bigger credit stimuli FT

China – Worries mount over bond market FT *

China – Bond market is on edge FT *

China – Bondholders Lose Their Beijing-Bailout Confidence WSJ *

China – Struggling to unleash the power of stocks and bonds E *



ECONOMICS

China – Despite slowdown, consumption is resilient E *

China – Provincial Growth Rates Are Splintering B *



POLITICS & FISCAL POLICY

China – Crackdown on data sales opens gaps in economic statistics FT

China – Presses Economists to Brighten Their Outlooks WSJ *

China – Power to the party E *



MONETARY POLICY

FINANCE

China – Lending Inflates Real Estate, Stocks, Even Egg Futures NYT

China – Banks disguise risky loans as ‘investments’ FT

China – Banks must brace for trouble E *

China – Big but brittle E *

China – Big Banks Aren’t Looking So Large WSJ

China – Banking Sector 367% of GDP *

China – ‘The coming bank bailout’ B *

China – Shadow banks: High-risk alternative E *

China – Tencent backs down in mobile payments war with Alibaba FT * *



REAL ESTATE

China – Homeowners Live in Legal Limbo WSJ / FT *

China – Total debt for property developers soars *



LABOR & EDUCATION

SERVICES

Gaming – Don’t Go Putting Chips on Macau WSJ *

Gaming – Macau Shares of casino operators have risen 30% WSJ *

Gaming – Macau Casino Revenue Drops Less Than Estimated B *

Gaming – Meadowlands Casino Plan Advances WSJ

Gaming – Atlantic City on the verge of running out of cash E / WSJ * *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

China – Iron ore sinks below $60 as frenzy cools FT *

China – Great Commodity Bubble Loses Air Before It Can Burst B * *

China – Steel Makers Undercut Rivals as Economy Slows NYT



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Most popular female names by country *
Most popular male names by country *



Today’s Issue Cluster: Oil

EMs – Downgrades Loom With Debt Cliff, S&P Warns
World – Longest Negative Rate Experiment Shows Perversions Ahead
Protein – Chile’s salmon sector hit by toxic algae bloom



MAJOR DATA POINTS

China – Markit Composite PMI Lower; 50.8 from 51.3 / m *

US – Apr: Challenger planned layoffs surge; 65k, +35% / R

US – Week: Jobless Claims Rose; +17k to 274k / WSJ / AP



MARKETS

EMs – Downgrades Loom With Debt Cliff, S&P Warns B *

EMs – Debt burden at new high, says Fitch FT *

EMs – Flows maintain their momentum in April FT *

EMs – Net cash flows into corporate debt ‘could turn negative’ FT *



ECONOMICS

India – Sharp Growth Picture Gets Fuzzy WSJ *

India – Conglomerates throwing themselves into arms-making E *



POLITICS & FISCAL POLICY

India – Farm Subsidies Put Government in Bind WSJ *

India – Water wars FT / FT *



MONETARY POLICY

World – Alarm bells ring over negative interest rates FT

World – Negative rates put pressure on central banks to take risks FT / WSJ *

World – Longest Negative Rate Experiment Shows Perversions Ahead B *



FINANCE

India – Banks face up to corporate debt problems FT *



REAL ESTATE

LABOR & EDUCATION

SERVICES

Retail – Alibaba Sales Surge as Chinese Consumers Defy Gloom B *

Retail – China barriers won’t stop cross-border ecommerce FT *

Retail – New US Rules Make Foreign Goods Better Deal WSJ *

Retail – Mobile shopping shift spurs spending B *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

Pipe – Dreams still alive for selected few in US energy rout R *



COMMODITIES

Protein – Breeders Stew Over How to Slow Pace of Chicken Growth WSJ *

Protein – Beijing taps emergency pork reserves as prices hit record high ft * *

Protein – Japan’s tuna imports fall as young prefer steak to sushi FT *

Protein – Chile’s salmon sector hit by toxic algae bloom FT *



ENERGY & ENVIRONMENT

Oil – Rises on oil sands supply outage FT *

Oil – Why This Year’s Rally Might Be for Real B *

Oil – Bulls bet waning shale boom will curb glut B *

Oil – Despite Shale Glut, US Imports More Foreign Crude WSJ *

Oil – Industry bankruptcy wave nears size of telecom bust R

Oil – Price Upheaval Finally Hits Refiners WSJ *

Oil – Petrochemicals Save Industry B *

Oil – US producers Ultra and Midstates fall victim to low price FT *

Oil – Price Drop Vanquishes Cutting-Edge Projects WSJ *

Oil – Banks Dodge One Risk WSJ *

Oil – Rally Isn’t as Deep Rooted as It Looks at First Glance B *

Oil – W. Africa crude down on cooled Chinese buying R *



HEALTH

ENDNOTE

Countries with more than one capital wiki *



Today’s Issue Cluster: Autos

Currencies – Yen Under Pressure to Extend World-Beating Rally
Australia – To block vast land sale to China-led consortium
Crops – Traders stuck in the hard times



MAJOR DATA POINTS

US – Apr: ADP private hiring slows; +156k from +194k / R

US – Mar: Factory orders rebound; +1.1% from -1.9% / R

US – Q1: Productivity Fell, Signaling Tepid Growth; -1.0%, +0.6% yr / WSJ

US – Apr: ISM Services Saw Stronger Growth; 55.7 from 54.5 / WSJ

US – Apr: Markit Composite PMI Rose; 52.4 from 51.3 / m

US – Mar: Trade deficit shrinks as imports hit low; -$40b from -$47b / R / WSJ / cr *



MARKETS

Currencies – Dollar’s slide takes it to 15-month nadir FT / FT *

Currencies – Japan in a bind as US turns up heat FT

Currencies – Yen Under Pressure to Extend World-Beating Rally B * *

Currencies – Mena forex sector has enjoyed massive growth B *

Currencies – Craig Wright: BBC ‘Gullible’ ft / WSJ / e



ECONOMICS

Australia – Rich Chinese Resist Lure of Residency WSJ *



POLITICS & FISCAL POLICY

Australia – Budget 2016: Winners and losers B *



MONETARY POLICY

RBA – Australia cuts interest rates to record low FT / WSJ



FINANCE

REAL ESTATE

Australia – To block vast land sale to China-led consortium FT *



LABOR & EDUCATION

SERVICES

MANUFACTURING

Autos – US: Strong sales revive hopes for fresh record FT / WSJ *

Autos – US: Record April Doesn’t Do Much to Contain Unease B *

Autos – US: Hot on the Lot: Leasing a Used Car WSJ *

Autos – China: Giants Curb Ambitions WSJ *

Autos – China: Foreign and Domestic SUVs Face Off WSJ / AP *

Autos – EU: Car Boom Leaves Makers Hunting for Profits WSJ *

Autos – Russia: Renault Tries to Fix AvtoVAZ Misadventure WSJ *

Autos – Mexico: Trump calls Ford plant ‘an absolute disgrace’ R / FT / WSJ

Autos – Mexico: Free trade fiesta N *

Autos – Brazil: Wheels fall off local industry FT *

Autos – India: Top Chinese carmakers plot major push R

Autos – Premium: Daimler Set to Reclaim Top Spot WSJ *

Autos – Ford: Sales Gains Come at a Price WSJ / WSJ *

Autos – EVs: Chinese Tech Firms Charge Into Electric Cars WSJ *

Autos – EVs: Long road ahead for China FT *

Autos – EVs: Germany to Subsidize Electric Autos WSJ *

Autos – Tesla: With the hoopla over, now the hard work B * * *

Autos – Tesla: Wall Street values Company at $620k per car R

Autos – Tesla: Will the Model 3 be the first self-driving car? B *



TECH

TRADE & TRANSPORTATION

COMMODITIES

Crops – Traders stuck in the hard times FT *

Crops – Traders Rejecting Soybeans Developed by Monsanto WSJ *



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Australian Urban Footprint reddit *



Today’s Issue Cluster: Commodities

ECB – Mario battles the Wutsparer
Media – Vinyl Sales Beat Ad-Supported Streaming
Solar – Utilities, companies are ‘finally playing nicely’



MAJOR DATA POINTS

China – Apr: Caixin PMI in 14th month of contraction; 49.4 from 49.7 / WSJ



MARKETS

Portugal – Canadian rating agency gives lifeline FT *



ECONOMICS

EU – Eurozone Growth is Bucking the Global Trend WSJ *

EU – Eurozone in a Modest but Uncertain Recovery NYT / FT *



POLITICS & FISCAL POLICY

MONETARY POLICY

ECB – Brussels downgrades forecasts for inflation FT *

ECB – Draghi returns fire over Berlin’s attacks FT / WSJ

ECB – Mario battles the Wutsparer E *



FINANCE

REAL ESTATE

LABOR & EDUCATION

Italy – Stagnant jobs growth challenges Renzi FT *



SERVICES

Media – Vinyl Sales Beat Ad-Supported Streaming paste *

Media – Labels step up YouTube fight over music FT *

Media – Rise of Digital Music Stops the Industry’s Decline / statista *



MANUFACTURING

TECH

Telecoms – Landline Business Shrinks WSJ *

Telecoms – Will Cord Cutting Come to the Cellphone? wsj



TRADE & TRANSPORTATION

TTIP – Leaked documents cast doubt on EU-US trade deal G

TTIP – Anti-Americanism fuels German fears over trade pact FT



COMMODITIES

Commods – In China, the New Casino Is Iron Ore WSJ *

Commods – Soaring steel price threatens China capacity cuts FT *

Commods – China’s 2016 surge in metals demand B * *

Commods – Speculators march into China FT / FT *

Commods – Crops Egged On by China’s Futures Frenzy WSJ

Commods – China Trades Enough Cotton in One Day to Make Jeans for Everyone B *

Commods – Brazil’s political turmoil hangs over agricultural markets FT *

Commods – ‘The bad times are just beginning’ N *



ENERGY & ENVIRONMENT

Solar – Utilities, companies are ‘finally playing nicely’ B *

Solar – SunEdison: Death of a star FT / WSJ / R * *

Solar – Consolidation looms in cut-price Indian sector FT *



HEALTH

ENDNOTE

Introducing The PIZZA BOX PIZZA vinnies *



Today’s Issue Cluster: Currencies

Venezuela – Doesn’t Have Enough Money to Pay for Its Money
Mobiles – Chipmaker Rout Worsens as Peak Smartphone Fears Punish Suppliers
Oil – On track for biggest monthly gain in seven years



MAJOR DATA POINTS

China – Mar: Clings to factory growth for 2nd month; 50.1 from 50.2 / FT / WSJ

US – Apr: ISM manufacturing index falls; 50.8 from 51.8 / MW

US – Mar: Construction spending rises to 8-1/2-year high; +0.3% from +1.0% / R



MARKETS

Currencies – US adds China, Germany and Japan to new watchlist FT / B *

Currencies – Dollar stirs in jungle ready for a sustained run FT *

Currencies – Trading’s 20% Drop Raises Specter of Flash-Crash Future B *

Currencies – Sweden Declares Truce B *

Currencies – Denmark Seen Dumping Kroner B *

Currencies – Questions over whether EMs have hit an inflection point FT *



ECONOMICS

Puerto Rico – Heads for imminent default FT / WSJ

Brazil – Turmoil conceals signs of growth FT *

Argentina – How did Macri pull off a $16.5b bond sale? FT / FT *

Chile – Turning copper into wine FT *

Ecuador – Despairs after quake and seeks urgent funds to rebuild FT *

Venezuela – Civil servants put on 2-day week to cut power usage FT *

Venezuela – Doesn’t Have Enough Money to Pay for Its Money B *

Venezuela – Expat Oil Workers Fall on Hard Times WSJ *

Mexico – Explores regulating opium to fight drug violence R *



POLITICS & FISCAL POLICY

LatAm – Investors Applaud Political Changes in Brazil and Argentina WSJ *



MONETARY POLICY

Argentina – Central Banks Can Create Inflation WSJ *



FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

TECH

Mobiles – In Smartphone Market, the Squeeze Is On WSJ *

Mobiles – Chipmaker Rout Worsens as Peak Smartphone Fears Punish Suppliers B / WSJ *



TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

Oil – On track for biggest monthly gain in seven years FT *

Oil – Opec output near record as Iran, Iraq offset outages R

Oil – Market Deja Vu Triggers Predictions of a Return to $30 B *

Oil – Supply growth will moderate only slowly IMF *

Oil – Companies Begin to Benefit From Cost Cuts WSJ *

Oil – Refining’s silver lining loses luster R

Oil – Energy Companies Gain $400b on Rally B *

Oil – China’s Companies Produce Mixed Results Despite Aid WSJ *



HEALTH

ENDNOTE

Elevation of capitals reddit *



Today’s Issue Cluster: Auto Scandals

Asean – Growth potential is waning
e-Cigs – Why e-smoking is flourishing
Zika – Local US outbreaks ‘likely’



MAJOR DATA POINTS

EZ – Q1: GDP returns to pre-crisis levels; +0.6% from +0.3% / FT / WSJ / R

Mexico – Q1: GDP Beats Forecasts; +2.7% / B

US – Mar: Fed fav PCE price index rose; +0.1% from -0.1% / WSJ / R

US – Q1: Employment Costs Improve at Modest Rate; +0.6% from +0.5% / WSJ

US – Apr: UMich sentiment index falls; 89.0 from 91.0 / MW

US – Apr: Chicago PMI falls; 50.4 from 53.6 / MW



MARKETS

Asean – Debt problem hasn’t gone away B *

Asean – Growth potential is waning E *



ECONOMICS

Mongolia – Land of Lost Opportunity WSJ *

Thailand – Tourism: the Chinese keep coming FT * *

Indonesia – Market buoyant FT *

Indonesia – Toiling over transition FT *

Indonesia – Sprawling archipelago is a logistics company’s nightmare N * *

Philippines – Energizes as FDI powerhouse FT



POLITICS & FISCAL POLICY

Asia – Fighter jet sales fit into US’s China-containment strategy N *



MONETARY POLICY

FINANCE

Asia – China’s ambitions show through in ‘Silk Road’ lending FT *

Asia – Infrastructure challenge set to cost $6.5t N * *



REAL ESTATE

LABOR & EDUCATION

SERVICES

e-Cigs – UK Report Advocates Substituting for Tobacco WSJ

e-Cigs – Why e-smoking is flourishing E / NYT *



MANUFACTURING

Autos – Scandals: Industry left reeling by multiple investigations FT * *

Autos – Mitsubishi: Admits Manipulating Fuel-Economy Data WSJ / FT / NYT / N *

Autos – Diesel: The gulf between test results and the real world widens E *

Autos – VW: Says scandal bill could be much more than $18b R / FT / WSJ / NYT *

Autos – VW: Falls to biggest annual loss in its history FT *

Autos – VW: Deal With US Over Emissions Scandal WSJ / FT

Autos – VW: Costs of scandal mount FT *

Autos – VW: Says ‘no sacred cows’ in turnround FT *

Autos – VW: Why Digital Could Be Harder than Diesel WSJ

Autos – VW: Did Germany turn a blind eye? FT *

Autos – VW: The One Family That Could Fix It and Why They Won’t B *



TECH

TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

HEALTH

Zika – Brain Damage Far Worse Than Expected WSJ

Zika – Local US outbreaks ‘likely’ R / AFP *

Zika – White House to Shift $500m from Ebola WSJ



ENDNOTE

Photos taken by locals and tourists in Tokyo motw *



Today’s Issue Cluster: Crops

Stocks – Strange Trades Are Happening in Global Markets
BOJ – Holds Off on More Stimulus
Oil – Bulls Plunge Into Market as US Gasoline Demand Hits Record



MAJOR DATA POINTS

Japan – Mar: Falls back into deflation; -0.1%, core +0.7% / FT / R / B

EZ – Apr: Confidence Picks Up After ECB Stimulus; 103.9 from 103.0 / WSJ

US – Q1: Growth cools; +0.5% from +1.4% / FT / NYT / WSJ / R / B

US – Week: Jobless Claims Rose; +9k to 257k / WSJ / B



MARKETS

Stocks – Strange Trades Are Happening in Global Markets B * * *

Stocks – US set for second-longest bull run FT *

Stocks – US in Midst of Historic Bull Market B * * *



ECONOMICS

POLITICS & FISCAL POLICY

EU – Obama Praises Europe in Op-Ed Aimed at Swaying Brexit Vote B

EU – Putin’s Propaganda Machine Is Meddling With Elections B *



MONETARY POLICY

Fed – Concerns about global economic risks ease FT / WSJ / NYT / B *

Fed – No One Believes It, but Inflation Is a Pretty Good Bet WSJ *

Fed – Japan’s Nirp is an alarm bell for the US FT

BOJ – Holds Off on More Stimulus B *

BOJ – Stuns Market B *

BOJ – Hold disappoints FT / FT *

BOJ – Why Kuroda Held Fire WSJ *



FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

F&B – Big food in health drive to keep market share FT * *

F&B – Wholesale Food Distributors Push Higher IBD



TECH

Cybersecurity – Thieves target bank systems after Bangladesh heist FT *

Cybersecurity – Iran opens a new front FT *



TRADE & TRANSPORTATION

COMMODITIES

Crops – Hedge funds double bets on rally as weather gets nastier B *

Crops – Corn and soybeans attract heavy investor buying FT

Crops – China may relax its almost total ban on growing GM food E *

Crops – Global Coffee Shortage Looms B *

Crops – Are the sweet days over for orange juice? FT *

Crops – El Niño: Feeling the heat FT *



ENERGY & ENVIRONMENT

Oil – Bulls Plunge Into Market as US Gasoline Demand Hits Record B *

Oil – Magic Number Becomes $50 for Promise of Recovery B *

Oil – Could Reach $75 in Q1 Says Standard Chartered / b *

Oil – Most Analysts Aren’t Buying the Rally WSJ *

Oil – Companies’ Bet on Kurdistan Turns Sour WSJ *

Oil – Unexpected consequences of slump FT *

Oil – Skid in Prices Pulls Recycling Industry Down With It NYT / B *



HEALTH

ENDNOTE

Country flags: Have families, too *