The Morning Call--More inflation bad news

 

The Morning Call

 

5/19/21

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/gold-gains-dollar-commodities-crypto-stocks-slide

 

            What the ‘magazine cover’ indicator is telling us.

            https://allstarcharts.com/short-their-optimism/

 

            Billionaires are off loading massive amounts of stock.

            https://www.zerohedge.com/markets/billionaires-are-offloading-massive-amounts-stock

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications were up 1.2% while purchase applications   were down 4.1%.

 

Month to date retail chain store sales grew less rapidly than in the prior week. 

 

                        International

 

March Japanese industrial production rose 1.7% versus a decline of 1.3% in February.

 

April UK CPI came in at 0.6%, in line; core inflation was +0.3% versus +0.4%.

 

April EU CPI was reported at 0.6%, in line.

 

                        Other

 

Post traumatic shopping.  I am not sure that these stats are all that positive; that is, if two and half years of sales have been pulled forward then the economy may be even more sluggish than I expect in 2022.

                          https://thereformedbroker.com/2021/05/18/post-traumatic-shopping/

 

                          Border detention stats.

                          https://politicalcalculations.blogspot.com/2021/05/visualizing-border-migration-crisis.html#.YKP30ahKiUk

 

            Inflation

 

              La Nina turbocharges drought in Brazil.

              https://www.zerohedge.com/commodities/la-nina-turbocharges-drought-brazil-worlds-oranges-coffee-risk

 

              Energy companies must halt all projects to meet terms of Paris Accord.

              https://www.zerohedge.com/energy/energy-companies-must-immediately-halt-all-new-projects-world-meet-paris-accord-target

 

            The coronavirus

 

              Why the sudden turnabout on restrictions?

              https://www.realclearmarkets.com/articles/2021/05/18/why_the_sudden_cdc_turnabout_on_covid_restrictions_777571.html

 

     Bottom line.

 

            The latest fund manager investment survey.

https://www.marketwatch.com/story/fund-managers-position-for-boom-expectations-with-tech-demand-at-three-year-lows-bank-of-america-survey-finds- 11621335033

                                 

            More analysis.

            https://www.zerohedge.com/markets/peak-wall-street-optimism-here-its-all-downhill-here

 

                        Thoughts on the optimistic view.

                        https://realinvestmentadvice.com/technically-speaking-yardeni-the-market-will-soon-reach-4500/?utm_medium=email&utm_campaign=Technically%20Speaking%20Yardeni%20%20The%20Market%20Will%20Soon%20Reach%204500&utm_content=Technically%20Speaking%20Yardeni%20%20The%20Market%20Will%20Soon%20Reach%204500+CID_4744ce709e6f2028d6962bd55f1091a3&utm_source=RIA%20Email%20Marketing%20Software&utm_term=READ%20MORE

 

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

            Is the second cheapest wine on the list a rip off? (just read the introduction)

            https://wine-economics.org/wp-content/uploads/2021/04/AAWE_WP264.pdf

           

            The pros and cons of liquidating your portfolio and buying a home for all cash.

            https://awealthofcommonsense.com/2021/05/the-pros-cons-of-liquidating-your-portfolio-to-buy-a-house/

 

            Quote of the day.

            https://cafehayek.com/2021/05/quotation-of-the-day-3529.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

 

 

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