The Morning Call--The Fed has done more for capitalists than capitalism

 

The Morning Call

 

3/25/21

 

The Market

         

    Technical

 

            Wednesday in the charts.

            https://www.zerohedge.com/markets/bitcoin-black-gold-buck-burst-higher-big-tech-breaks-down

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The final reading on Q4 GDP growth showed a rise of 4.3% versus expectations of +4.1%; the price deflator was 1.5%, in line; corporate profits fell 1.4%.

 

                          Weekly jobless claims totaled 684,000 versus forecasts of 730,000.

 

The March flash manufacturing PMI came in at 59.0 versus consensus of 59.3; the flash services PMI was 60.0, in line; the flash composite PMI was 59.1 versus 59.5 in February.

 

                        International

 

The March EU flash consumer confidence index was reported at -10.8 versus predictions of -14.5.

 

The April German consumer confidence index came in at -6.2 versus estimates of -11.9.

 

                        Other

                            

                             Vehicle miles driven decreased 9.6% YoY in January.

                             https://www.calculatedriskblog.com/2021/03/dot-vehicle-miles-driven-decreased-96.html

 

                             High frequency indicators point to big economic rebound.

                             https://www.zerohedge.com/economics/us-high-frequency-indicators-point-sharp-economic-rebound

 

            The Fed

 

              The Fed has done more for capitalists than capitalism.

              https://thehill.com/opinion/finance/544385-the-feds-all-in-approach-does-more-for-capitalists-than-capitalism

 

              Another blistering appraisal of the Fed from David Stockman (must read).

              https://www.zerohedge.com/markets/stockman-while-wall-street-bubbles-jay-pow-babbles

 

              The problem with unwanted money.

              http://scottgrannis.blogspot.com/2021/03/the-problem-with-unwanted-money.html

 

              The BOJ just bought the most stock in 2021 to halt price plunge.

              https://www.zerohedge.com/markets/kuroda-put-boj-just-bought-most-stocks-2021-halt-topix-rout

 

 

            Bottom line.  Save yourself from Market hype.

                        https://americanconsequences.com/running-of-the-bulls-save-yourself-from-market-hype/

 

              How many stocks should I own?

              https://www.advisorperspectives.com/commentaries/2021/03/23/how-many-stocks-should-i-own

 

              The danger of over concentration.

              https://theirrelevantinvestor.com/2021/03/23/the-agony-the-ecstasy/

 

              Tech bubble or rotation?

              https://ritholtz.com/2021/03/tech-bubble-or-rotation/

 

              The latest from BofA.

              https://www.zerohedge.com/markets/bank-america-expects-sp-return-just-02-over-next-decade

 

    News on Stocks in Our Portfolios

 

What I am reading today

 

            Bitcoin as battery.

            https://www.nickgrossman.xyz/2021/bitcoin-as-battery/

 

            The coming demographic collapse in China.

            https://nationalinterest.org/feature/coming-demographic-collapse-china-180960

 

            Another theory on the recent interstellar object hurdling through our solar system.

            https://www.nytimes.com/2021/03/23/science/astronomy-oumuamua-comet.html

 

            “There is stuff flying over our bases and nobody knows what it is.”

            https://www.zerohedge.com/geopolitical/marco-rubio-talks-ufos-tmz-theres-stuff-flying-over-us-bases-and-nobody-knows-what-it

 

 

 

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