Financial Markets and Economy
Dollar’s Trump-Inspired Surge Sets Off Intervention Across Asia (Bloomberg)
The dollar had its best week since 2011, spurring central banks from India to Indonesia to step in to stabilize their currencies on concern that U.S. President-elect Donald Trump will pursue policies that spur capital outflows from developing economies.
Oil Tankers Used to Store Millions of Barrels as Land Sites Fill (Bloomberg)
Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. The glut could get bigger still, given the region is scheduled to load the most cargoes in 4 1/2 years next month.
Global Stocks, Bonds Decline as Traders Weigh U.S. Election (Bloomberg)
Global stocks joined declines in bonds and commodities as a selloff in emerging markets deepened with traders parsing the implications of a Donald Trump presidency for the world’s largest economy.
What Is Lost by Burying the Trans-Pacific Partnership? (NY Times)
WASHINGTON — Congressional leaders confirmed this week what seemed inevitable with the triumph of Donald J. Trump: The far-reaching trade agreement with 11 other Pacific Rim nations that President Obama hoped to leave as a major legacy, but which Mr. Trump called “a terrible deal,” is dead.
Carry Trades Collapse as Emerging-Market Yield Advantage Shrinks (Bloomberg)
Add emerging-market carry trades to the early list of losers from a Donald Trump presidency.
Bets on higher-yielding currencies from Indonesia to Brazil are unwinding at the fastest pace since 2011 as soaring U.S. Treasury yields undermine the case for riskier government debt.
Trump victory prompts U.S. fund managers to focus on inflation (Reuters)
Donald Trump's surprise victory in the U.S. presidential race is pushing mutual fund managers out of dividend stocks and into the shares of financial, industrial and materials companies that stand to benefit from rising inflation.
Analysts Boggled by Copper’s Run: Crazy, Nuts, Unsustainable (Bloomberg)
The copper market went haywire this week, leaving analysts voicing shock over a rally that seemed to have few fundamental reasons.
The U.S. Economy President Donald Trump Will Inherit, in 11 Charts (The Wall Street Journal)
Donald Trump is poised to inherit one of the longest-lived economic expansions since the World War II era. Barring any shock or sudden acceleration, the president-elect will also will take office during the weakest.
Trump’s Defense Spending Hike Counts on a Reagan-Era Gimmick (Bloomberg)
Defense contractors and investors are celebrating Donald Trump’s plan to boost weapons spending, but Pentagon budgeting experts say he’s counting on savings that won’t come true — the old Washington saw of rooting out waste, fraud and abuse.
After Trump win, critic Buffett sees strong stocks, trade hurdles (Reuters)
Billionaire investor Warren Buffett defended the stock market's strength and raised doubts about President-elect Donald Trump's trade agenda in a CNN interview broadcast on Friday, just days after the U.S. election.
Do You Really Have the Stamina to Be Wealthy? (The Wall Street Journal)
Everyone knows beating the market is hard. What many investors still don’t seem to realize is that even surviving the market is hard.
Trump presidency could prove a salve for pharma merger deals (Reuters)
Biotechnology companies, whose U.S. shares soared Wednesday after Republican Donald Trump's presidential election, may soon see another benefit: an uptick in biotech M&A.
Trump Win Puts a Bullseye on Elizabeth Warren’s Banking Watchdog (Bloomberg)
A day of reckoning has arrived for Elizabeth Warren’s favorite regulator.
Republicans — as well as many lobbyists — have long vilified the controversial Consumer Financial Protection Bureau, created in the wake of the financial crisis, for having scant accountability and writing rules that harm banks.
Can cities sue banks for predatory lending? (The Economist)
The recession of 2008 wreaked havoc on minority communities in America’s cities. Using an innovative legal strategy, one particularly hard-hit city, Miami, is trying to recoup some of its losses from banks that contributed to the crisis. Miami claims it is due compensation from Bank of America and Wells Fargo under the Fair Housing Act (FHA), a law Congress passed in 1968 that bars sellers, banks and landlords from discriminating against buyers and tenants on the basis of their race.
US Treasury 10 Year Auction Delivers Lowest Bid-To-Cover Since March ’09 (Confounded Interest)
The 10 year US Treasury auction yesterday produced a new low. The bid-to-cover ratio for the 10 year Treasury fell to 2.220. It is the lowest bid-to-cover ratio since March 2009.
Natural Gas Looks Like A Buy Here (Video) (EconMatters)
We check out the Natural Gas Market in this video, and we could be setting up for taking out some important levels to the upside in NatGas next week. We could see a nice Gap Up in Natural Gas Sunday Night!
Paul Krugman: Thoughts for the Horrified (Economist's View)
I started blogging a few months after George Bush was reelected. I didn't feel like I has done enough before the election, so I decided to do whatever I could to try and make a difference.
Bonds Plunge by $1 Trillion This Week as Trump Seen Game Changer (Bloomberg)
European government bonds extended their selloff Friday, with the yield on Italian 10-year securities climbing above 2 percent for the first time since September 2015, while benchmark German 10-year bunds declined for a fifth day, pushing the yield to the highest since February.
Understanding the Art of Doing Nothing (Pragmatic Capitalism)
Most of what we end up doing in our lives is determined not by what we decide to do, but by what we decide NOT to do. In the course of any given day we decide not to do millions of things. Eliminating all of these actions results in a direction that determines how we end up acting out our day.
Companies
Macy's and Kohl's Have Good News on Wage Growth (Bloomberg)
Last quarter, it was Starbucks Corp. and Chipotle Mexican Grill Inc. that were talking about the challenge of rising wages. This time around, it's retailers that are noticing the effects ahead of their most important quarter of the year: the holiday shopping season.
Swiss PostFinance to start negative rates for rich private clients (Reuters)
Nov 11 Swiss bank PostFinance will start charging private customers to hold deposits of more than 1 million Swiss francs ($1.01 million), it said on Friday, citing the impact of the Swiss National Bank's negative rates policy to curb the strong franc.
Technology
Fox, CNN, Even MSNBC Can Agree Trump Is the Gift That Keeps On Giving (Bloomberg)
Fox News, CNN and MSNBC enjoyed a surge in viewership with Donald Trump’s presidential campaign, and his narrow victory is still provoking passions across the political spectrum. The question now is who will benefit the most from interest in Trump’s transition to office.
Two major Russian banks say hit by cyber attacks (Reuters)
Cybersecurity firm Kaspersky Lab said the distributed denial of service (DDoS) attacks represented the first major wave of such attacks on Russian banks this year and that at least five of the country's largest banks had been targeted.
Many Facebook profiles converted to 'Memorial' pages in apparent glitch (Mashable Asia)
Many living Facebook users were "memorialized" Friday afternoon, meaning the social network claimed they were dead.
You just can't make this stuff up.
This crazy cyber attack shows that even our light bulbs aren't safe from hackers (Science Alert)
A couple of weeks ago, a massive cyber attack temporarily took down some of the most popular sites on the web – including Twitter, Reddit, and Amazon – by co-opting millions of vulnerable 'smart home' devices.
Boom's supersonic jets will pick up where the Concorde left off (Engadget)
Boom founder and CEO Blake Scholl wants passengers to break the sound barrier. Since the demise of the supersonic Concorde passenger jet, commercial airline's haven't offered a quicker alternative to fly from point A to point B.
People Are Having A Hard Time Buying The NES Classic [UPDATE] (Kotaku)
As has become standard procedure for Nintendo’s hardware systems, the NES Classic is very hard to buy. If you want one, you’re going to have to work for it.
This morning, Nintendo fans came out in droves to line up at Targets and Best Buys across the country (including our own Best Buy here in Manhattan’s Union Square) for the new machine.
Read All About It! Google Play News Stand 4.0 Brings Major Redesign, New Features (Digital Trends)
Google Play Newsstand is getting a redesign. Version 4.0 of the app has begun rolling out to users, giving it both an all-new look, and a series of new features.
Perhaps the biggest change is the aforementioned redesign, which gets rid of the Highlights and Top News streams and replaces them with a series of personalized greetings and articles that you might find interesting.
Politics
Donald Trump will never “drain the swamp”: He’s already staffing his transition team with GOP insiders, Wall Street lobbyistsThe Trump campaign may have just been trolling the stunned protestors who have taken to the streets in the days since his surprise win with reports of a Sarah Palin and Rudy Giuliani-filled Cabinet. However, the millions of Americans who voted for the businessman and political novice citing his campaign pledges to “drain the swamp” and “blow up” the stale political apparatus in Washington D.C., have already been rewarded with perhaps the most epic political Rickroll ever.
Trump’s Transition Team Works to Form Cabinet (The Wall Street Journal)
WASHINGTON—Donald Trump’s transition team raced to form his cabinet on Thursday as more names were floated for some of the biggest jobs in the president-elect’s administration, including a foe of financial regulation for the powerful position of Treasury secretary.
Journalism’s delivery system, not the coverage itself, is broken (Columbia Journalism Review)
JOURNALISM MATTERS BECAUSE PEOPLE around the world need timely news and analysis to make informed decisions about their lives.
This is a maxim that drives the work of many reporters. At the Committee to Protect Journalists, it’s why we advocate for the rights of persecuted journalists working in repressive and dangerous environments.
If you have a preexisting health condition, don’t even think about leaving your job (Think Progress)
If President-elect Trump follows through on his campaign promises, millions of individuals—immigrants, religious minorities, people of color—face a very grim four years. One of the worst hit groups will be Americans with significant health costs.
How Letting Bankers Off the Hook May Have Tipped the Election (NY Times)
There are many facets to the populist, anti-establishment anger that swept Donald J. Trump into the White House in Tuesday’s election. A crucial element fueling the rage, in my view, was this: Not one high-ranking executive at a major financial firm was held to account for the crisis of 2008.
Damascus, allies upbeat on Trump win, await his policies (Reuters)
Syrian President Bashar al-Assad and his allies hope to benefit from Donald Trump’s election win, believing it has saved them from the risks of an interventionist Clinton administration.
In a shift, Trump assails U.S. protesters, then praises their 'passion' (Reuters)
U.S. President-elect Donald Trump denounced Americans who protested against his election and hours later praised them on Friday, underscoring contradictions that have raised questions about his leadership style.
Trump Faces Battle to Undo Iran Nuclear Deal (The Wall Street Journal)
WASHINGTON—Donald Trump as president will be positioned to swiftly pull the U.S. out of the Obama administration’s landmark nuclear agreement with Iran, as he suggested during his campaign.
Trump bucks protocol on press access (Associated Press)
WASHINGTON (AP) — Donald Trump is keeping Americans in the dark about his earliest conversations and decisions as president-elect, bucking a long-standing practice intended to ensure the public has a watchful eye on its new leader.
Trump’s Data Team Saw a Different America—and They Were Right (Bloomberg)
Nobody saw it coming. Not the media. Certainly not Hillary Clinton. Not even Donald Trump’s team of data scientists, holed up in their San Antonio headquarters 1,800 miles from Trump Tower, were predicting this outcome. But the scientists picked up disturbances—like falling pressure before a hurricane—that others weren’t seeing.
Conquering Trump comes to DC (The Hill)
Welcome to Washington, Donald Trump.
Party leaders rolled out the red carpet for the new president-elect on Thursday, showing him around the city that the Manhattan billionaire businessman and reality TV star will call home for the next four years.
Chelsea Clinton being groomed to run for Congress (New York Post)
While some pundits are declaring the Clinton political dynasty dead, sources tell us that it is far from over. Chelsea Clinton is being groomed for the New York seat held by Rep. Nita Lowey.
Health and Biotech
Pill Packing 100 Billion Designer Bacteria Could Be Tested Next Year (Singularit Hub)
Bacteria are among the oldest life forms on Earth and exist nearly everywhere; in the soil, water, deep in the earth’s crust and in our own bodies. Actually, there are at least as many bacterial cells in the human body as human cells.
Smallest sliver of time yet measured sees electrons fleeing atom (New Scientist)
It’s like catching light in action. For the first time, physicists have measured changes in an atom to the level of zeptoseconds, or trillionths of a billionth of a second – the smallest division of time yet observed.
Brain Implant That Lets Paralyzed Primates Walk Again May Help Humans Too (Digital Trends)
Researchers have helped restore control of non-functioning limbs in monkeys with spinal injuries, raising hope that the same technology could one day help paralyzed people to walk again.
Life on the Home Planet
'Betrayed by the American dream': What it's like to be undocumented in the age of Trump (AFP)
Los Angeles (AFP) – When would-be immigrants Bernardino and Samuel got word in Mexico of the election of Donald Trump, they immediately gave up their plans to cross illegally into the United States.
Displaced Families Fleeing Mosul Violence Face Squats Or Camps (Newsweek)
At the small mosque in Shahrezad village, piles of human feces dot the toilets and rubbish is strewn around the garden. Women with infants huddle in the prayer room and dozens of others have slept on thin blankets in the open air.
ISIS Executing Dozens In Mozul As Iraqi Troops Continue Street Battles In City (Newsweek)
The Islamic State militant group (ISIS) is executing dozens of people inside the northern Iraqi city of Mosul for reasons ranging from alleged treason to the leaking of information, the United Nations said Friday.
Islamic State executes scores, stockpiles chemicals in Mosul: U.N. (Reuters)
Islamic State fighters have executed scores more people around the northern Iraqi city of Mosul this week and are reported to be stockpiling dangerous chemicals in civilian areas, the U.N. human rights office said on Friday.
Watch an Earth-Observing Satellite Launch Today (Scientific American)
The WorldView-4 satellite is scheduled to lift off today at 1:30 p.m. EST (1830 GMT) atop a United Launch Alliance (ULA) Atlas V rocket from Vandenberg Air Force Base in California. You can watch the liftoff live here at Space.com, courtesy of ULA.
