Be in the know. 30 key reads for Wednesday…

  1. Auto Sales Defy Gloomy Forecasts. Dealers, car executives cite pent-up demand from years of shortages and high prices (wsj)
  2. China Should Welcome Yellen With Open Arms (bloomberg)
  3. ‘Bad Breadth’ is the latest ridiculous reason naysayers insist stocks are doomed (nypost)
  4. Yellen’s China Visit Aims to Ease Tensions Amid Deep Divisions (nytimes)
  5. China’s PBOC Eyes Stability Amid Recovery Woes (bloomberg)
  6. China’s Xi says countries share responsibility to promote growth, opposes decoupling (cnbc)
  7. Here Are the Tools That China Uses to Manage the Yuan (bloomberg)
  8. Today’s Fed Minutes Should Give Clues on Rate Pause (barrons)
  9. Amazon is the cheapest of the Magnificent Seven stocks by this important measure (marketwatch)
  10. How the Fed and Investors Could All Be Wrong on Rates (wsj)
  11. China Banks Cut Rates for $453 Billion Corporate Dollar Deposits (bloomberg)
  12. “Preference among many tenants for trophy or Class A+ space is driving rents higher in that segment of the market, while tenants are able to dictate terms to a greater extent for commodity Class A and Class B/C space,” according to the Savills report. (marketwatch)
  13. Why the 5 Highest-Yielding Nasdaq Stocks Could Rip Higher With the Red-Hot Summer Rally (247wallst)
  14. US new vehicle sales set to gain in June, S&P Global Mobility says (reuters)
  15. Edmunds: Pent-Up Demand to Prop Up New Car Sales in Q2 (aftermarketnews)
  16. Cox Automotive Forecast: New-Vehicle Sales to Increase More Than 11% Year Over Year Through the First Half of 2023 (cox)
  17. Year-To-Date Auto Forecasts Show Things Are Looking Up. (insideradio)
  18. US wants to limit China’s access to cloud services from Amazon, Microsoft: report (nypost)
  19. China Official Meets With Foreign Drugmakers to Boost Confidence (bloomberg)
  20. Test Driving the $245,000 Aston Martin DB12 in the Hills of Monte Carlo (bloomberg)
  21. Wharton’s Jeremy Siegel says the bull run in stocks can go a lot longer even as the Fed wages ‘war on growth’ (businessinsider)
  22. Here’s why Wall Street’s biggest bull thinks the stock market is headed to record highs this year (businessinsider)
  23. Google searches for inflation have plunged – and that could mean rising prices aren’t a big problem anymore, Nobel economist Paul Krugman says (businessinsider)
  24. China is restricting the export of two little-known metals crucial to the semiconductor industry. It shows Beijing still holds important chips in its tech war with the West. (businessinsider)
  25. China’s chipmaking export curbs ‘just a start’, Beijing adviser warns before Yellen visit (reuters)
  26. Xi warned Putin against nuclear attack in Ukraine (ft)
  27. China gets a new central bank chief as economy struggles for lift-off (ft)
  28. US biotech Moderna strikes deal to develop mRNA drugs in China (ft)
  29. “China’s government bonds have outperformed stocks since 2010,” said Alpine Macro analysts in a report. “As for stocks, they could bounce back after being beaten down badly since 2021. Nevertheless, a sustainable rally in Chinese shares would first require aggressively pro-cyclical fiscal policy and persistent monetary stimulus.” (scmp)
  30. Asking Rent Growth Flat Year-over-year (calculatedriskblog)