Tuesday, March 9, 2021

The Morning Call---Investors continue to sell S&P, long bond and gold

 

The Morning Call

 

3/9/21

 

The Market

         

    Technical

 

            Monday in the charts.  The S&P, the long bond and gold continue to be sold.

            https://www.zerohedge.com/markets/dow-dominates-tech-wrecks-bitcoin-bond-yields-buck-bounce

 

            Yields moving higher.

            https://www.zerohedge.com/the-market-ear/c3rp4up13

 

            But are higher yield expectations getting ahead of themselves?

            https://www.zerohedge.com/markets/markets-not-holding-back-rate-hike-bets

 

            The Market doesn’t know where to price the 10 year Treasury.

            https://www.zerohedge.com/markets/repo-chaos-continues-market-just-doesnt-know-where-price-10-year

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The February small business optimism index came in at 95.8 versus 95.0 recorded in January.

 

                        International

 

January Japanese household spending fell 7.3% versus forecasts of -3.1%; Q4 GDP growth was 2.8% versus 3.0%; Q4 capital expenditures was  up 4.3% versus +4.1%.

 

The January German trade balance was +E22.2 billion versus consensus of +E16.4 billion,

 

The third Q4 EU GDP growth estimate was +6.3% versus expectations of +5.0%.

                               

                        Other

 

                          The real unemployment rate is much higher than the numbers indicate.

                          https://www.calculatedriskblog.com/2021/03/the-employment-situation-is-far-worse.html

 

                           Update on seven high frequency indicators.

                           https://www.calculatedriskblog.com/2021/03/seven-high-frequency-indicators-for_8.html

 

            The Fed

 

              The Fed’s kryptonite.

              https://www.epsilontheory.com/the-feds-kryptonite/

 

              The global central banks will be busy the next ten days.

              https://www.bloomberg.com/news/articles/2021-03-07/central-banks-face-jumpy-bond-market-with-ten-days-of-decisions?srnd=economics-vp&sref=loFkkPMQ

 

The article makes a very key point: with the birth rate and hence population growth declining, why are our monetary/fiscal policies aimed at economic growth rates that existed at times of much faster demand (population) growth?

              https://www.zerohedge.com/economics/narrative-inflation-amid-depopulation

 

            Fiscal Policy

 

              Checks without balances.

              http://blog.yardeni.com/2021/03/checks-without-balances.html

 

            Inflation

 

              Maybe inflation is not the problem we think that it is.

              https://econbrowser.com/archives/2021/03/the-price-level-shortfall

 

              How to profit from inflation.

              https://theirrelevantinvestor.com/2021/03/08/how-to-profit-from-inflation/

 

 

            The coronavirus

 

              The ineptitude of our ruling class.

              https://blog.evergreengavekal.com/the-year-the-earth-stood-still-and-the-year-the-earth-still-stood/

 

              End the lockdowns.

              http://scottgrannis.blogspot.com/2021/03/its-time-to-end-covid-mandates-and.html

 

              Update on coronavirus stats.

              https://politicalcalculations.blogspot.com/2021/03/one-year-of-coronavirus-pandemic-in-us.html#.YEZ8RJ1KiUk

 

            Bottom line.

 

              The day the growth trade topped.

              https://thereformedbroker.com/2021/03/08/the-day-the-growth-trade-topped/

 

              Long on confidence, short on experience.

            https://www.advisorperspectives.com/commentaries/2021/03/08/retail-investors-are-long-confidence-and-short-experience

           

                    Whales buying the bitcoin dip.

              https://www.zerohedge.com/crypto/bitcoin-rejoins-cuatro-comas-club-whales-bought-dip-nft-demand-accelerates

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

            Balance your passions not your time.

            http://traderfeed.blogspot.com/2021/03/should-high-achieving-traders-try-to.html

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.

 

 

 

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