The Morning Call---Time for a spring cleaning

The Morning Call

 

4/20/21

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/cryptos-crushed-dollar-dumped-semis-slammed-vix-spikes

 

            Market breadth at extreme levels.

            https://compoundadvisors.com/2021/when-a-rising-tide-lifts-all-boats

 

            The revival of bonds as a buffer.

            https://www.ft.com/content/59bb5713-fb16-4344-8f7f-348616bfd36b

 

            Is bitcoin systemically important?

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

           

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                        International

                           

February UK average earnings were up 4.5% versus expectations of +4.8%; February unemployment was 4.9% versus 5.1%.

 

March German PPI was +0.9% versus estimates of +0.6%.

 

                        Other

 

                          Update on seven high frequency indicators.

                          https://www.calculatedriskblog.com/2021/04/seven-high-frequency-indicators-for_19.html

 

            The Fed

 

              The Fed pinky swears that its policies will not anticipate any increase in inflation.

              http://blog.yardeni.com/

                

              The Fed’s inflation problem (must read).

               https://www.zerohedge.com/markets/feds-inflation-problem-easy-money-creates-more-market-reported-inflation

 

              The Fed wades into climate and equity issues.

              https://www.nytimes.com/2021/04/19/business/economy/federal-reserve-politics.html

 

            Fiscal Policy

 

              When everything is infrastructure, nothing is infrastructure.

              https://www.zerohedge.com/political/when-everything-infrastructure-nothing-infrastructure

 

            Inflation

           

              Company price change announcements and future inflation.

              https://econbrowser.com/archives/2021/04/company-price-change-announcements

 

     Bottom line.  Time for spring cleaning.

            https://theirrelevantinvestor.com/2021/04/18/it-gets-harder-from-here/

 

            Have bear markets changed?

            https://theirrelevantinvestor.com/2021/04/17/have-bear-markets-changed-forever/

 

            Can the Market continue to rally?

                        https://realinvestmentadvice.com/market-continues-its-rally-as-earnings-season-starts-04-16-21/?utm_medium=email&utm_campaign=Real%20Investment%20Report%20Market%20Continues%20Its%20Rally%20As%20Earnings%20Season%20Starts&utm_content=Real%20Investment%20Report%20Market%20Continues%20Its%20Rally%20As%20Earnings%20Season%20Starts+CID_a3cd5b8b08bb4f31456131c75f8700ef&utm_source=RIA%20Email%20Marketing%20Software&utm_term=READ%20MORE

 

             China calls bitcoin an ‘alternative investment’.

             https://www.cnbc.com/2021/04/19/china-calls-bitcoin-an-investment-alternative-marking-shift-in-tone.html

 

 

    News on Stocks in Our Portfolios

 

Procter & Gamble (NYSE:PG): FQ3 GAAP EPS of $1.26 beats by $0.07.

Revenue of $18.11B (+5.2% Y/Y) beats by $150M.

 

Johnson & Johnson (NYSE:JNJ): Q1 Non-GAAP EPS of $2.59 beats by $0.24; GAAP EPS of $2.32 beats by $0.22.

Revenue of $22.32B (+7.9% Y/Y) beats by $280M.

 

Canadian National sparks bidding war for Kansas City Southern.

https://www.zerohedge.com/markets/canadian-national-sparks-bidding-war-30-billion-offer-kansas-city-southern

 

 

What I am reading today

 

            Quote of the day.

            https://cafehayek.com/2021/04/quotation-of-the-day-3499.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

 

            When doing less is more.

            http://traderfeed.blogspot.com/2021/04/when-doing-less-is-more.html

           

            What octopus dreams tell us about the evolution of sleep.

            https://www.wired.com/story/what-octopus-dreams-tell-us-about-the-evolution-of-sleep/

 

 

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