Credit Bubble Bulletin
Presented by Doug Noland since 2012
Credit Bubble Daily
[CNBC] U.S. stocks tick lower after S&P 500 posts back-to-back gains: Live updates
[Yahoo/Bloomberg] US Will Impose 21% Tariff on Mexican Tomatoes Starting in July
[Yahoo Finance] BofA's Moynihan says 'we potentially face a changing economy' after stock traders post record haul
[Yahoo/Bloomberg] US Economy Is Set to Lose Billions as Foreign Tourists Stay Away
[Axios] Our Latin American friends
[Reuters] At China's largest trade fair, exporters say US markets are 'frozen'
[Reuters] Chinese official says US tariff aims to 'take away Hong Kong's life'
[Reuters] China's murky bankruptcies expose hazards for foreign investors
[Bloomberg] Dollar’s Link to US Treasury Yields Weakens as Confidence Cracks
[Bloomberg] Will Policy Chaos Trigger a Flight From the Dollar?
[Bloomberg] Treasury Term Premium Jumps to Decade High on Policy Uncertainty
[Bloomberg] China Orders Boeing Jet Delivery Halt as Trade War Expands
[Bloomberg] New York Manufacturing Contracts While Outlook Slumps on Tariffs
[Bloomberg] Japan Super-Long Yield Premium at Widest Since 2002 Amid Tariffs
[Bloomberg] Trump’s China Ship Fees Set to Hit Global Shipping Giants
[Bloomberg] Avoid US or Take Burner Devices, Canadian Executives Tell Staff
[Bloomberg] China Shadow Bank That Oversaw $108 Billion Faces Liquidation
[NYT] Trump’s Dilemma: A Trade War That Threatens Every Other Negotiation With China
[WSJ] Trump’s Trade War Deepens Threat to U.S. Brands in China
[WSJ] Bank Trading Desks Are Minting Money From Trump’s Tariff Chaos
[WSJ] China’s Port Cargos Start to Slow as Tariff Tensions Escalate
[WSJ] U.S. Freezes Billions in Funding After Harvard Says It Will Fight Trump’s Demands
[WSJ] U.S. Softens Position on Iranian Uranium Enrichment
[FT] Off-the-run credit liquidity is the worst since March 2020
[FT] Trade, tech and Treasuries: China holds cards in US tariff stand-off
[FT] Trump team has not said what it wants in trade talks, says EU
[FT] How Wall Street got Donald Trump wrong
[FT] Trump is halfway to making America a police state
[FT] Top Trump official tells Europe to choose between US or Chinese communications tech
[FT] Xi Jinping urges Vietnam to oppose Donald Trump’s tariff ‘bullying’
[FT] France risks ‘irreversible’ harm from overspending, PM warns
[CNBC] U.S. stocks tick lower after S&P 500 posts back-to-back gains: Live updates
[Yahoo/Bloomberg] US Will Impose 21% Tariff on Mexican Tomatoes Starting in July
[Yahoo Finance] BofA's Moynihan says 'we potentially face a changing economy' after stock traders post record haul
[Yahoo/Bloomberg] US Economy Is Set to Lose Billions as Foreign Tourists Stay Away
[Axios] Our Latin American friends
[Reuters] At China's largest trade fair, exporters say US markets are 'frozen'
[Reuters] Chinese official says US tariff aims to 'take away Hong Kong's life'
[Reuters] China's murky bankruptcies expose hazards for foreign investors
[Bloomberg] Dollar’s Link to US Treasury Yields Weakens as Confidence Cracks
[Bloomberg] Will Policy Chaos Trigger a Flight From the Dollar?
[Bloomberg] Treasury Term Premium Jumps to Decade High on Policy Uncertainty
[Bloomberg] China Orders Boeing Jet Delivery Halt as Trade War Expands
[Bloomberg] New York Manufacturing Contracts While Outlook Slumps on Tariffs
[Bloomberg] Japan Super-Long Yield Premium at Widest Since 2002 Amid Tariffs
[Bloomberg] Trump’s China Ship Fees Set to Hit Global Shipping Giants
[Bloomberg] Avoid US or Take Burner Devices, Canadian Executives Tell Staff
[Bloomberg] China Shadow Bank That Oversaw $108 Billion Faces Liquidation
[NYT] Trump’s Dilemma: A Trade War That Threatens Every Other Negotiation With China
[WSJ] Trump’s Trade War Deepens Threat to U.S. Brands in China
[WSJ] Bank Trading Desks Are Minting Money From Trump’s Tariff Chaos
[WSJ] China’s Port Cargos Start to Slow as Tariff Tensions Escalate
[WSJ] U.S. Freezes Billions in Funding After Harvard Says It Will Fight Trump’s Demands
[WSJ] U.S. Softens Position on Iranian Uranium Enrichment
[FT] Off-the-run credit liquidity is the worst since March 2020
[FT] Trade, tech and Treasuries: China holds cards in US tariff stand-off
[FT] Trump team has not said what it wants in trade talks, says EU
[FT] How Wall Street got Donald Trump wrong
[FT] Trump is halfway to making America a police state
[FT] Top Trump official tells Europe to choose between US or Chinese communications tech
[FT] Xi Jinping urges Vietnam to oppose Donald Trump’s tariff ‘bullying’
[FT] France risks ‘irreversible’ harm from overspending, PM warns
[CNBC] Stock futures rise after a wild week as traders weigh surprise China tariff exemption: Live updates
[Yahoo/Bloomberg] Dollar Extends Drop to Fresh 2025 Lows as Tariff Saga Rolls On
[Yahoo/Bloomberg] Gold-Trading Frenzy Erupts in China as Tensions With US Escalate
[Yahoo/Bloomberg] Oil Steadies With Trade War Shifts and Iran Talks to the Fore
[Axios] Trump says he'll announce new chips tariffs over next week
[Axios] Trump's hardline stance
[Politico] Risk of failure looms large as GOP starts drafting the ‘big, beautiful bill’
[AP] China’s Xi says there are ‘no winners’ in a tariff war as he visits Southeast Asia
[CNBC] Billionaire Ray Dalio: ‘I’m worried about something worse than a recession’
[Yahoo/Reuters] BOJ Ueda warns of heightened uncertainty from US tariff policy
[Reuters] Japan PM warns US tariffs have potential to disrupt global economic order
[Yahoo/Reuters] China's March exports beat expectations with 12.4% gain, imports fall
[Yahoo/Reuters] OPEC cuts 2025 global oil demand growth forecast, citing US tariffs
[Axios] Iran nuclear talks expected to continue Saturday in Rome
[Bloomberg] Trump’s Tangled Tariffs Sow Confusion as Negotiators Line Up
[Bloomberg] Trump Warns Tariffs Coming for Electronics After Reprieve
[Bloomberg] Xi Seeks to Win Over Southeast Asia as Trump Pauses Some Tariffs
[Bloomberg] Weak Dollar Wishes Are Scary When Granted
[NYT] Trump Has Added Risk to the Surest Bet in Global Finance
[WSJ] U.S. Allies Are Sitting Out Trump’s Trade War With China
[WSJ] Five Things to Watch for Signs of Market Trouble
[WSJ] How the U.S. Lost Its Place as the World’s Manufacturing Powerhouse
[WSJ] Canadians Are Cashing Out Their American Vacation Homes
[WSJ] Civilian Death Toll in Ukraine Climbs, as Putin Resists Trump’s Peace Drive
[FT] Why Xi holds a stronger hand than Trump
[FT] Xi Jinping warns ‘no winners’ from Trump trade war as he heads to Vietnam
[FT] Germany willing to send Taurus missiles to Ukraine, says Merz
[Axios] The global financial order is shaking beneath our feet
[Reuters] US Commerce Secretary says exempted electronic products to come under separate tariffs
[Reuters] How China went from courting Trump to ‘never yield’ tariff defiance
[AP] As tariffs put trade between China and the US in peril, Chinese businesses ponder the future
[Yahoo/WSJ] The Companies and Markets Hit Hardest by Trump’s Tariffs
[Yahoo/Bloomberg] G-7 Central Banks Prepare First Responses to US Tariff Chaos
[AP] Trump goes with his gut and the world goes along for the ride
[AP] Some top tech leaders have embraced Trump. That’s created a political divide in Silicon Valley
[Politico] Trump tariffs ‘increase risk’ of financial crisis, Germany’s Merz warns
[AP] More than 30 people killed, 99 injured in Russian missile attack on Ukrainian city of Sumy
[Bloomberg] China Says US Tariff Break a ‘Small Step’ to Fixing Mistake
[Bloomberg] Emerging Markets Face ‘Wrecking Ball’ From Tariff Turmoil
[Bloomberg] Japan Doesn’t Plan to Use US Treasuries as Tariff Talk Leverage
[Bloomberg] China Credit Expansion Beats Forecast on Bond Sale Deluge
[Bloomberg] France Needs €40 Billion in Savings to Reach 2026 Deficit Target
[NYT] Trump Has Added Risk to the Surest Bet in Global Finance
[WSJ] Economic Outlook Dives Just Three Months Into Trump’s Term
[WSJ] Trump’s ‘Big, Beautiful’ Bill Faces Tense Next Chapter in Congress
[WSJ] Wall Street’s ‘Smart Money’ Braced for Tariff Chaos. It Was Still Caught Off Guard.
[WSJ] Trump Floods Supreme Court With Appeals to Push Through Agenda
[WSJ] Wealthy Buyers Are Backing Out of Multimillion-Dollar Home Deals
[WSJ] Iran Has a Reason to Strike a Nuclear Deal: Its Economy Is in Trouble
[FT] US tech tariff exemption may only be temporary, says Lutnick
[FT] China is well positioned to weather Trump’s trade war
[FT] Trump’s China trade war a ‘boon’ for Brazil but sends US farmers reeling
[FT] America the Unstable
[FT] Trump chaos prompts top Canadian and Danish pension funds to cool on US
[FT] The ‘Nixon shock’ might help us make sense of the Trump one
[AP] Trump administration says it will exclude some electronics from ‘reciprocal’ tariffs
[Yahoo/WSJ] How One of the Wildest Weeks in Market History Unfolded
[Reuters] Trump trade team chases 90 deals in 90 days. Experts say good luck with that
[AP] Trump’s China tariff shocks US importers. One CEO calls it ‘end of days’
[NBC] Bond market moves raise fears of growing bets against America
[Yahoo/Bloomberg] Trump Says Russia Must ‘Get Moving’ as US Envoy Met Putin
[Bloomberg] Fed’s Deepest Tariff Fear Is a Price Shock That Won’t Fade Away
[Bloomberg] Trump’s Liz Truss Moment Helps UK Remember Bond Market Is Boss
[Bloomberg] Trump Plans Order to Enable Critical Metals Stockpiling: FT
[NYT] Fed Under Pressure as Inflation Expectations Surge
[NYT] ‘This is Not Normal’: Trump’s Tariffs Upend the Bond Market
[NYT] Bessent Takes Tricky Center Stage as Trade Wars Roil U.S. Economy
[NYT] Raise Prices? Eat Higher Costs? Retailers Face Tough Questions.
[NYT] Investors Seeking Safety Look to German Government Bonds
[WSJ] Trump Exempts Smartphones, Other Electronics From Chinese Tariffs
[WSJ] Wall Street’s Best Hope to End Trump’s Global Trade War Is One of Its Own
[WSJ] Trump Confronts Mexico Over Water Shortage Threatening Texas Crops
[FT] Gold enjoys best week in five years as investors rush to safety
[FT] Warning lights flash for US consumer strength as credit defaults rise
[FT] The Chinese goods Americans rely on, from microwaves to Barbies
[FT] Donald Trump plans to stockpile deep sea critical metals to counter China
[FT] Iran says it has started ‘indirect’ talks with US over nuclear crisis
[FT] Vladimir Putin’s war chest under threat as oil prices slide
[Yahoo/Reuters] Gold bolts past $3,200 on dollar slide, safe-haven flows
[Yahoo/Reuters] Dollar Sinks and Gold Soars in Spiraling Trade War: Markets Wrap
[Yahoo/Reuters] Dollar slides to decade-low vs Swiss franc as US assets hit by loss of confidence
[Yahoo/Bloomberg] Dollar Emerges as Latest Victim of This Week’s Markets Mayhem
[Yahoo/Reuters] US bond funds hit by heavy outflows as recession, inflation fears mount
[AP] China hits back at US and will raise tariffs on American goods from 84% to 125%
[AP] US wholesale inflation fell last month as price pressures eased, but trade war clouds outlook
[Axios] The world's hot new trade is "sell America"
[Axios] To fight a trade war, it's nice to have friends
[Politico] Xi wants EU-China tag team to resist Trump’s trade onslaught
[Reuters] Private credit secondary sales set to rise as market turmoil spurs hunt for cash
[Bloomberg] China Caps Tariffs on US at 125%, Calls Trump Levies a ‘Joke’
[Bloomberg] Bond Analysts Debate If China Had Role in Treasuries Swings
[Bloomberg] Treasuries Suddenly Trade Like Risky Assets in Warning to Trump
[Bloomberg] Trump and Xi Are Preparing for a War Nobody Wants
[Bloomberg] Dollar Emerges as Latest Victim of This Week’s Markets Mayhem
[Bloomberg] Fed’s Kashkari Not Seeing Dislocation That Merits Intervention
[Bloomberg] Tariff Reprieves Won't Repair Trust In America
[Bloomberg] Trump Threatens More Tariffs on Mexico Over Water Rights
[Bloomberg] ECB Is Ready to Use Instruments It Has If Needed, Lagarde Says
[NYT] Markets Worry About Finding an Exit From Trump’s Trade Fight
[NYT] How This Trade War Is Different From All Other Trade Wars
[NYT] Trump Puts Wall Street Leaders in Tight Spot
[WSJ] The U.S. and China Are Going to Economic War—and Everyone Will Suffer
[WSJ] Does Trump Have a China Trade Strategy?
[WSJ] Europe’s Governments Pledge Unity in Tariff Fight
[WSJ] Trump Team Races to Cut Piecemeal Tariff Deals With More Than 70 Countries
[WSJ] Noonan: Trump’s Climbdown for the Ages
[FT] China increases retaliatory tariffs on US imports to 125%
[FT] Tett: Trump tests the American attitude to pain
[FT] JPMorgan chief Jamie Dimon warns of ‘considerable turbulence’ in US economy
[FT] Market sell-off resumes as Donald Trump’s China tariffs spook investors
[FT] US risky debt funds hit by historic outflows as Donald Trump’s tariffs shake markets
[FT] US fires Greenland base commander after JD Vance visit
Q4 Review - 2023 Preview
Thursday, January 19, 2023 – 4:00pm Eastern / 2:00pm Mountain
David McAlvany
Doug Noland
Credit Bubble Weekly
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