China has put the kibosh on micro-lending, a move that has cut short not just the consumer loans themselves but the giant asset-backed securities market—a $37 billion industry in China last year alone.  The new curbs have had an outsized effect on the Ant Financial arm of Jack Ma’s empire – Bloomberg

Yet even as it’s putting a thumb on the scales of the ABS markets, China is removing another from management of the yuan and allowing its currency’s daily reference rate to respond to market forces. China had introduced the counter-cyclical factor last year “in a bid to reduce volatility in the yuan,” a move that gave the government “more control over the currency, but undermined earlier efforts to make the yuan more accessible and market-driven” – Bloomberg

Recent calls by major investors Jana Partners and Calstrs for Apple to take responsibility for how its products are affecting children have prompted Breakingviews to deem Apple no longer immune from the recent tech backlash – NYTimes

And perhaps with that in mind, Streetwise has some advice for surviving a frothy and, perhaps, overly “euphoric market”—tech stocks included – WSJ

A spate of Fed insiders (and former officials) are arguing that the Fed should act now while the economy is hot to chart a new course—away from inflation targeting, for example—before the next crisis hits – NYTimes

Meanwhile, Switzerland’s content in just using its central bank as a massive profit center – WSJ

Bloomberg, too, is considering the negative impact such euphoria may have on stocks – Bloomberg

Former OCC interim chief Keith Noreika is back at Simpson Thacher now that Joseph Otting is in as the agency’s permanent head – Law360

Though French owner Patrick Drahi will retain control, Altice NV announced yesterday that it will spin off its US unit, a move intended to allow Drahi to better “pursue a turnaround plan for the debt-laden European operation” – Bloomberg

The UK’s Financial Conduct Authority has banned another former interest rate derivatives trader from the regulated financial sector over his “reckless” part in the manipulation of Libor.  The ex-RBS trader was also fined more than $300k – Law360

According to Toyota, food trucks are on to something.  The automaker unveiled several concepts at CES 2018 that would expand the concept to an entire line of pop-up shops housed in autonomous vehicles – MarketWatch

Sorry, Dawgs.  The Tide found a way to Roll yet again – NYTimes