The first trading week of the year continued the patterns of late 2018. Markets continue to be volatile, moving several percentage in each directions, not only daily but intraday. The main news of the week was Apple’s profit warning, blaming lack of sales in China and the trade-war. The question is will more companies come out with same type of comments as earnings start trickling in. In China, the economy continues to languish. Manufacturing is lagging, and the government cut bank reserve requirements to boost (dope) the economy. Could this proverbial kicking the can down the road help? On the “positive” side, Fed Chairman Powell said in round-table on Friday that they monitoring the markets and are cognizant of the changes. In another words, maybe more dovish fed ahead. Markets reacted accordingly rallying. In the coming weeks, the main drivers will be potential development of U.S. China trade-deal and companies reporting earnings.  

Economy, Trade & Fed, Macro

Non Consensus Trump from Ask Brokers

Fed Chairman Powell Sees Flexibility on Rates This Year via WSJ

U.S. December Nonfarm Payrolls Grew by 312,000; Jobless Rate Rose to 3.9% by WSJ

U.S.-China trade war takes toll on global manufacturing via Reuters

The future might not belong to China by FT

Chinese manufacturing had an even worse December than expected, more data show via CNBC

China says will cut banks’ reserve requirements, taxes, as bad news piles up from Reuters

Xi Jinping asserts that Taiwan and China ‘will be unified’ by FT

Worse than Japan: how China’s looming demographic crisis will doom its economic dream via SCMP

UK Housing Bubble Swoons as Brexit-Day Nears. London Hit Hardest from Wolf Street

The Housing Bust in Sydney & Melbourne, Oh My! Via Wolf Street

Spurning Erdogan’s Vision, Turks Leave in Droves, Draining Money and Talent by NYTimes

Markets / Companies

Do you believe in Go(l)d or America? By Ask Brokers

Taking Stock of the World’s Debt by WSJ

Be Careful What You Hedge from Ask Brokers

Key Fed Yield Gauge Points to Rate Cuts for First Time Since 2008 via Bloomberg

What Happens When Bond Markets Get Weird from WSJ

Trump’s Favorite Barometer Is Warning Him by Bloomberg

The Rise After the Fall by Of Dollars and Data

Investors Might Be Paying Too Much for These Index Funds from Barron’s

Savings Accounts vs. CDs vs. Money Market Mutual Funds via The Simple Dollar

2018 Asset Class Total Return Performance — Bespoke’s ETF Matrix from Bespoke


Here’s (Almost) Everything Wall Street Expects in 2019 via Bloomberg

Bearish is Not Unique (here) by Ask Brokers

Apple’s Precarious and Pivotal 2019 500ish Words

Apple: Suppliers to Follow Post Profit Warning via Ask Brokers

If Tim Cook’s all-hands meeting doesn’t fix Apple’s pricing, it’s pointless via Venture Beat

Apple: Is M&A the Only Way Forward? Netflix the Obvious Target? From AskBrokers

Netflix takes on the movie industry by Axios

Netflix pulls episode of comedy show in Saudi Arabia from FT

Amazon Plans to Add Whole Foods Stores via WSJ

Roku, Taking Cues From Amazon, Adds Premium Subscriptions from WSJ

Tesla Shares Sink on Model 3 Delivery Miss, Price Cut by WSJ

Uber and Lyft’s valuations expose the gig economy to scrutiny by FT

2019 Will Be The Year JCPenney Flips — One Way Or Another from Forbes

Behind Lumber’s Collapse: A Perfect Storm of Housing and Trade by WSJ

For Hedge Funds This Year, $1 Billion Is the Loneliest Number via Bloomberg

Activist Elliott embraces private equity strategy by FT

China securities industry braces for influx of foreign competition from SCMP


Crypto Theses for 2019 from Medium

Crypto funds appeal for patience after market rout by FT

Research / Interesting Reads

The 10 Most Valuable Financial Lessons I Learned in 2018 by The Simple Dollar

Canada Says, ‘Give Me Your MBAs, Your Entrepreneurs’ via Bloomberg

What Billy Beane and Jim Simons Have in Common by Institutional Investor

Alibaba and the Future of Business by HBR

The US Loves To Charge Other Governments’ Hackers With Crimes. What Happens When One Of Those Countries Returns The Favor? Via Buzzfeed

Books are good for your brain. These techniques will help you read more. From Popular Science