The Morning Call
2/24/21
The
Market
Technical
Tuesday in the
charts.
https://www.zerohedge.com/markets/momo-dumps-powell-pumps-crypto-slumps
10 year Treasury yields
spike above 1.4%.
https://www.zerohedge.com/markets/stocks-spooked-10y-yield-tops-140
Fundamental
Headlines
The
Economy
US
Weekly mortgage
applications fell 11.4% while purchase applications were down 11.1% (undoubtedly weather related)
The February Richmond
Fed manufacturing index came in at 14, the same reading as in January.
February consumer
confidence was reported at 91.3 versus expectations of 90.0.
https://www.advisorperspectives.com/dshort/updates/2021/02/23/consumer-confidence-up-in-february
International
Q4 German GDP grew 0.3% versus estimates of
+0.1%.
Other
Global
double dip recession.
More for the optimists.
https://www.nytimes.com/2021/02/23/upshot/biden-bonds-market-inflation.html
The
Fed
The Fed and Yellen.
https://www.zerohedge.com/markets/babble-7-fed-and-yellen
Powell testified
before the senate yesterday (the house today)-------and the bottom line (drum
roll, please) is that QEInfinity lives on.
Free money, free money, great God Almighty, free money. Prepared remarks:
https://www.zerohedge.com/markets/feds-whatever-it-takes-moment-preview-powells-testimony-congress
Fiscal
Policy
How much pork is in the $1.9 trillion stimulus
bill?
https://www.zerohedge.com/political/heres-how-much-wasteful-spending-new-19-trillion-stimulus-bill
Inflation
Reflation today, inflation tomorrow?
http://www.capitalspectator.com/reflation-today-inflation-tomorrow/
Speculation
Ray Dalio on how to spot a bubble.
https://ritholtz.com/2021/02/dalio-how-to-spot-a-bubble/
Blowing up the ‘everything’ bubble.
Technically
Speaking: Blowing Up The "Everything Bubble" - RIA
(realinvestmentadvice.com)
What to
do with all that cash.
https://www.zerohedge.com/the-market-ear/cydne9ywni
If this isn’t a blow off top……….
https://www.zerohedge.com/markets/if-isnt-blow-top
Bottom
line. According to Mr. Powell the monetary firehose
will continue to spew forth billions and billions. Short term, that will provide support for
higher stock prices. That said, the
sounds of alarm over valuations are getting louder. As I have said repeatedly, I do not know how
or when this condition will be corrected.
But something that can’t go on forever, won’t. Enjoy the ride but I do not think it wise to
get sucked into chasing stocks ever higher---and taking some profits is not a
bad idea.
The riskiest stock market in over a century.
https://americanconsequences.com/the-riskiest-stock-market-in-over-a-century-dan-ferris/
Early innings of a move to commodities.
News on Stocks in Our Portfolios
What
I am reading today
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
No comments:
Post a Comment