The Morning Call
4/8/21
The
Market
Technical
Wednesday
in the charts.
https://www.zerohedge.com/markets/small-caps-cryptos-clubbed-bonds-buck-bounce
More tech giants
joining the breakout.
https://www.zerohedge.com/the-market-ear/cdckqxfell
As
NASDAQ nears high.
https://www.zerohedge.com/the-market-ear/c82148a2oy
Is
oil trying to tell us something?
https://www.zerohedge.com/the-market-ear/cd0tit6qhg
Fundamental
Headlines
The
Economy
US
Weekly jobless claims were reported at 744,000
versus consensus of 680,000.
The February trade
balance was -$71.1 billion versus
estimates of - $70.5 billion.
https://www.calculatedriskblog.com/2021/04/trade-deficit-increased-to-711-billion.html
International
February German factory orders rose 1.2%, in line.
February EU PPI was up 0.5% versus expectations
of up 0.6%.
The March EU
construction PMI came in at 50.1 versus 45.0 in February; the March German
construction PMI was 47.5 versus 41.0 in February; the March UK construction PMI
was 61.7 versus 53.3 in February.
Other
Consumer credit explodes higher.
The latest nowcasts anticipate a strong US Q1.
http://www.capitalspectator.com/us-gdp-nowcasts-continue-to-anticipate-stronger-growth-for-q1/
A global K shaped recovery
https://www.nytimes.com/2021/04/06/business/economy/covid-world-economy.html
The
Fed
Yesterday, the FOMC
released the minutes of its latest meeting---which didn’t deviate from the current
narrative, i.e., the Fed is cautiously optimistic about the economy but not so
much that it is considering a change in interest rates or its bond buying
program.
The ECB also released
the minutes of its latest General Council meeting. Like the Fed, nothing has changed---more low
rates and QE.
https://www.zerohedge.com/markets/ecb-minutes-here-are-main-highlights
Markets beginning to price in rate hike next
year.
https://www.ft.com/content/3d3af68a-f25f-4cd5-902d-2b1c21b8cadb
Biden’s
Plan
A negative view.
https://www.washingtontimes.com/news/2021/apr/5/bidens-proposed-infrastructure-spending-is-wastefu/
The bloated infrastructure plan.
https://www.city-journal.org/bidens-bloated-infrastructure-proposal
This is a good pro/con discussion.
https://reason.com/video/2021/04/05/does-national-debt-still-matter-americas-greatest-gamble/
Inflation
The market’s expectation for inflation and
real rates over the next five years.
The
coronavirus
Where the virus was the deadliest for seniors.
The tyranny of ‘enlightened’ experts.
https://www.zerohedge.com/political/tyranny-enlightened-experts
Today’s
Investment Lesson
The stock market as a discounting mechanism.
Bottom line.
More on valuations.
https://www.advisorperspectives.com/dshort/updates/2021/04/06/is-the-stock-market-cheap
Another family office appears to be blowing
up.
News on Stocks in Our Portfolios
Automatic
Data Processing (NASDAQ:ADP) declares
$0.93/share quarterly dividend, in line with previous.
What
I am reading today
Kiev
forces primed for attack.
This is what is happening
at the border.
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for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
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