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What I Am Reading

Thursday, May 4, 2023

Markets

Corporate Profit Margins Are Finally Stabilizing, Creating New Tailwind for StocksWall Street Journal
Treasury Yields May Fall to 2% as Gundlach, Banks Eye RecessionBloomberg

Central banks

Pushback Against Powell’s Prognosis Comes Almost ImmediatelyBloomberg
Federal Reserve Raises Rates, Signals Potential PauseWall Street Journal
What a Fed response to a US debt default could look likeReuters

US

President Biden and Schumer must get to work to break the debt limit stalemateThe Hill
A Congressional Regulatory Report Card Can Begin To Address Biden’s New Attempts To Downplay Regulatory CostsFOX

China

China's skidding factory sector taps brakes on economic recoveryReuters

Europe

Europeans drain billions from banks, fed up with shrinking savingsReuters

Geopolitics & trade

Russian Vessels Photographed at Nord Stream Site Days Before BlastWall Street Journal
Did Russia stage the Kremlin drone attack it blamed on Ukraine?CNBC

Industries & companies

Airlines:Analysis: Delta's pilot deal turns up the heat on rival airlines' union negotiationsReuters
Financials:Banking’s Toaster Days Are Back as Interest Rates RiseBloomberg
Financials:US Reviews Goldman Sachs Role With Silicon Valley Bank (SVB) Before CollapseBloomberg
Financials:Car Insurance Rates Are Going Up AgainWall Street Journal
Media:FTC Proposes Barring Meta From Monetizing Young Users’ DataWall Street Journal
Restaurants:Restaurants, Food Companies Pursue Budget-Minded Consumers as Inflation PersistsWall Street Journal
Retail:Nordstrom Is Closing San Francisco Stores as Cities’ Retail Pain GrowsWall Street Journal

Corporate finance

Toronto-Dominion Bank, First Horizon Terminate Merger AgreementWall Street Journal

Technology