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Friday, January 5

5th Jan - Big rally, not strong jobs report



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EUROPE
Editorial: Europe Can't Afford a Leaderless GermanyBB
Maybe Germany can get by without a government, but the euro zone needs a leader in Berlin.

Ferdinando Giugliano: Europe Shouldn't Let a Good Recovery Go to WasteBB
The euro-zone boom can only last so long. Now is the time to complete the monetary union.

Euro-Area Inflation Slowdown Undermines Hawkish Calls to End QEBB


UNITED STATES
Trump New Year's Momentum Sapped by Wolff Book's RevelationsBB
Agenda on welfare overhaul, infrastructure imperiled * Split with Bannon deepens as Mercer cuts ties after Trump call

Trump Isolates Bannon in Feud as Mercer Family Cuts Off MoneyBB
The rift between Trump and his former strategist deepened * Bannon’s plans for 2018 populist revolution in doubt

Stock Investors Will Benefit Most From Corporate Tax OverhaulBB
Inequality will worsen because the wealthy are by far the largest owners of equities

Fed's Bullard Says Tax Overhaul May Light Fire Under InvestmentBB

  DECEMBER JOBS
Ransquawk Preview: Watch Out For Winter Storm Drag – ZH
Employment Report On The Way – Tim Duy
Headline US Jobs Disappoint, but Earnings as Expected – Marc Chandler
December Jobs Miss Huge At Only 148K; Hourly Earnings In Line – ZH
Unemployment improves slightly because of slow labor force growth – Daiwa
December Jobs Report – The Numbers – WSJ
Economists React: ‘No Cause for Alarm’ – WSJ
The December Jobs Report in 10 Charts – WSJ
Comments on December Employment Report – Bill McBride
U.S. Added Fewer Jobs Than Expected in December – BB


  MARKETS / OTHER
Bank of America: "It Ain't Over"ZH

Investors Are Seeing Something Unfamiliar in 2018: Sweet Yields – BB
Risk free rates look more attractive as stock dividends fall * Strategists say market pain could end the bond proxy trade

Academic Research Papers and Presentations Galore! – Alpha Architect
  

REGULARS
FirstFT Daily BriefingFT
Trump exposé brought forward, chip security flaw, record prime number

WSJ CityWSJ
Why Not to Trust Dow 25000, Kalanick to Trim Uber Stake, Weinstein Co. Nears Sale

“Best of the web” daily chartsLukas Daalder

Eye-OpenerNordea
Euro area inflation and US job report today * North Korea and South Korea to sit down for discussions * US Treasury yields a tad lower

Daily Market CommentMarc Chandler
Dollar Given Reprieve Ahead of Employment Report

Brussels PlaybookPolitico
Russian pig wars — Theresa’s fringe friends — Kosovo panic

Five Things You Need to Know to Start Your DayBB

US OpenZH
Relentless Stock Market Meltup Smashes Records Around The Globe