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What I Am Reading

Monday, September 11, 2023

Latest Morning Briefing

‘Talk To An Economist’

It’s worrying investors big time, but the escalating federal budget deficit doesn’t even merit an explanation from the administration driving it out of historically normal proportions. A federal deficit that’s rising as a percentage of nominal GDP at a time when GDP is rising is highly unusual. At risk is the bond market’s ability to finance the deficit at current interest rates. ... This concern could make bond yields less sensitive to inflation (and the Fed’s reaction to it) and more sensitive to bond supply and demand. For now, we’re sticking with our back-to-the-old-normal bond yield forecast, based on our moderating inflation forecast, but we are increasingly concerned about the flood of Treasuries. YRI Daily Markets Overview

Markets

Column: Mighty dollar shares in Fed's heavy liftingReuters
Japan Has a Long History of Disappointing Investors. Why This Rally Might Be Different.Wall Street Journal

Global

Trade Slump Reshuffles World’s Economic Cards in Favor of U.S.Wall Street Journal

Central banks

US

Europe

China

Geopolitics & trade

Biden backs World Bank for expanded role on global stage to counter ChinaCNBC

Industries & companies

Banks:With economy holding up, why is the market so down on America's banks?CNBC
Movie theaters:How Taylor Swift could change the movie theater industryCNBC
Pharma:Generic Drugs Should Be Cheap, But Insurers Are Charging Patients Thousands of Dollars For ThemWall Street Journal
Pharma:Ozempic, Wegovy may curb drinking, smoking: What we knowCNBC
Retail:Walmart Goes All In on AfricaWall Street Journal
Tech:Qualcomm to supply Apple with 5G modems for iPhones through 2026CNBC
Tech:Alibaba shares tumble after Daniel Zhang unexpectedly quits cloud businessCNBC

Technology

Nvidia's dominance in AI chips deters funding for startupsReuters

Corporate finance

Instacart seeks up to $7.7 billion valuation in IPOCNBC

Artificial Intelligence

Congress to hold new AI hearings as it works to craft safeguardsReuters

Beyond markets

UK begins Covid vaccine rollout early with new variant under watchCNBC