May 20, 2017

Wall Street watchers go bearish on Trump

Mark Lennihan / AP

Bearish talk on the Trump agenda from Barron's, which provides Axios AM readers with free links to three pieces behind the paywall:

  • "The controversies swirling around the administration could thwart much of the president's agenda, per Randall Forsyth's "Up & Down Wall Street" column: "A flatter [Treasury market] yield curve is a classic sign of reduced market expectations of rising interest rates, inflation, and growth. That is how politics have affected the outlook for policy, the economy, and the markets."
  • "Streetwise" column by Kopin Tan: "The same people who urged us to buy stocks in November because Trump will bestow on us big tax cuts and fiscal stimulus now say stocks can rally without Trump. Yes, global growth is healthy, but the rate of change in growth is turning lower in economies from the U.S. to China. ... Things are fine now, but someday the future will arrive."
  • "Buffett's Berkshire Could Post Double-Digit Gains: Berkshire Hathaway will excel, Buffett or no Buffett."

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What to watch in tonight's Democratic debate

Bernie Sanders at a campaign rally in Colorado. Photo: Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images

Bernie Sanders is now the clear front-runner for the Democratic presidential nomination, and his opponents are ready to try to knock him down at tonight's debate in Charleston, South Carolina β€” especially Michael Bloomberg, who was the punching bag at the Las Vegas debate.

Why it matters: This is the last debate before Super Tuesday, when Sanders is expected to win California and Texas and could secure an insurmountable lead for the Democratic nomination. That's a direct threat to the entire field, but especially to Bloomberg, who skipped the early states to focus on the March 3 contests.

Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

Go deeperArrowUpdated 2 hours ago - Economy & Business