May 12 (Tuesday)

YRI
Morning Briefing PDF 
Daily Markets

Markets
Opinion: Everything you know about growth and value stocks is about to flip MW

Credit & commodities
Wanted: Somewhere, Anywhere, to Store Lots of Cheap Oil W
Oil Prices Fall as Demand Concerns Outweigh Supply Cuts W
The Emerging-Market Debt Trap W

Central banks
After trying for a decade, central banks might succeed at generating inflation C
Fed Study Says Pandemic Likely to Have Muted Impact on Deflation B
Fed’s Evans sees no inflation risk, and no use for negative rates R
Big Money Managers Take Lead Role in Managing Coronavirus Stimulus W

US
‘Feels like we’re at the bottom’: Some executives see signs of recovery in April C
Economists Expect Recovery Will Be More of a ‘Swoosh’ Than V-Shaped W
New York leaders in denial on how badly coronavirus has crashed government revenues P
Cities, States That Tap Fed’s $500 Billion Fund Face Big Penalty B
Scarred and Scared, the Reshaping of American Consumers Begins B
Over 80% of U.S. small businesses expect longer impact of pandemic: survey R
As states reopen, homebuyers rush back out, but sellers are staying on the sidelines C

China
China’s Local Governments Binge on Off-the-Books Debt W

US politics
Democrats See Stimulus Bill by Friday at Earliest W
Republicans Willing to Back $500B Stimulus, Menendez Says  B
U.S. has no need to buy back debt, will take advantage of low interest rates: Mnuchin R
Mnuchin: Small-Business Aid Program Will Be Fixed to Help Restaurants Participate W
Pandemic Renews Push for Medicaid Expansion in GOP-Led States W
Election Risk Swells as Wall Street Warns on Tax Cut Reversal B

Geopolitics & trade
Investment Between U.S. and China Falls W
U.S. to Accuse China of Attempts to Hack Coronavirus Research W
Tom Cotton Has a China Coronavirus Attack Plan W
Trump and Chip Makers Seek Self-Sufficiency W
As U.S. meat workers fall sick and supplies dwindle, exports to China soar R

Industries & companies
Autos: Elon Musk could save billions in taxes if Tesla moves its headquarters to Nevada or Texas C
Autos: Detroit’s automakers have enough cash to last the year without a bailout after learning the ‘hard way’ in the Great Recession C
Biotech: Moderna Insiders Get Fresh Chance to Cash Out After 200% Surge B
Energy: U.S. Approves Giant Solar Project in Nevada W
FAANGs: Netflix Special Brings Interactivity to Comedy W
Hotels: Marriott’s Occupancy Starts Picking Up After Steep Decline W
Pharma: Drugmakers Overhaul the Sales Pitch Amid Coronavirus Lockdowns W
Utilities: Pandemic Sparks Slump in Electricity Prices W

Virus I
New York state begins to ease some coronavirus restrictions this week, allows some outdoor businesses and activities C
Texas Businesses Defy Coronavirus Shutdown W
Trump wades into Pennsylvania coronavirus plan, governor pushes back R
U.S. Drafts Guidelines for Reopening Nursing Homes W
Shanghai Disneyland Reopens With the Magic of Social Distancing W

Virus II
WHO warns that coronavirus cases have jumped in countries that eased lockdowns C
China Fires Official After New Coronavirus Cases Emerge in Wuhan Community W
Coronavirus patients discharged from hospitals report ‘long struggle,’ some relapse, WHO says C
New York City Saw 24,172 More Deaths Than Normal During Outbreak B

Virus III
One Idea for Speeding Vaccine: Deliberately Infecting People W
CityMD mistakenly told 15,000 people with coronavirus antibodies they’re immune C
U.S. Falling Short on Needed Contact Tracers, Experts Say W

Corporate finance
Shale Driller Chesapeake Energy Warns Its Future in Peril W
Deutsche Bank Seeks to Bolster Capital Structure W

Offbeat
Working from home is here to stay, even when the economy reopens C
Reopening the Coronavirus-Era Office W
A.P. Exams in the Coronavirus Era: Online, and Just 15 to 45 Minutes Long W
Bill Gates Has Regrets W