Friday, February 12, 2021

The Morning Call--Powell reiterates his reiteration

The Morning Call




The Market




            Thursday in the charts.



            Investment managers are all in.



            Still neutral.







              The Economy






The December UK balance of trade was -L6.2 billion versus -L6.6 billion in November; December industrial production was up 0.2 versus +0.5%; Q4 GDP growth was +1.0% versus +0.5%; Q4 business investment was +1.3% versus +14.5% in Q3.




                          How fragile is the oil price recovery?



                          A new inflation gauge from the NY Fed.



                          Are overly generous unemployment benefits shrinking the labor force?



                          Credit card sales rebounding.



            The Fed


              Powell reiterates his reiteration.



            Fiscal Policy


              Fiscal stimulus around the world.



            Bottom line.


              Will high dividend payers make a comeback in 2021?



              The divergence of nominal and real Treasury yields.



    News on Stocks in Our Portfolios


Nike (NYSE:NKE) declares $0.275/share quarterly dividend, in line with previous.


What I am reading today




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