The Morning Call
5/7/21
The
Market
Technical
Thursday in the
charts.
https://www.zerohedge.com/markets/dollar-dumps-dow-jumps-crypto-slumps
Taper
tantrum. It’s coming.
https://thereformedbroker.com/2021/05/06/taper-tantrum-2-0-any-day-now/
Prime brokers
slashing hedge funds leverage.
The ‘fear of
missing out’ trade.
https://www.zerohedge.com/the-market-ear/cb5yc9-p4b
Fundamental
Headlines
The
Economy
US
April nonfarm
payrolls grew by 266,000 versus estimates of 978,000….Oooops; the April
unemployment rate was 6.1% versus 5.8%.
International
The March German trade
balance was +E14.3 billion versus predictions of +E19.5 billion; March industrial
production was up 2.5% versus +2.3%.
The April Japanese
services PMI came in at 49.5 versus forecasts of 48.3 in March; the composite PMI
was 51.0 versus 49.9 in March.
The April Chinese
Caixin services PMI was reported at 56.3 versus 54.3 in March; the composite
PMI was 54.7 versus 53.1 in March; the April trade balance was $42.8 billion
versus expectations of $28.1 billion.
https://www.zerohedge.com/economics/china-trade-soars-april-global-economies-reopen
Other
Median new home prices versus median household
income.
US economic growth rate forecasts accelerate
in Q2.
http://www.capitalspectator.com/us-economic-growth-expected-to-accelerate-in-q2/
Bank of England forecasts fastest GDP growth in 70 years.
https://www.ft.com/content/ed3eae02-9c94-4083-8a5f-19fed51e7d54
Biden’s
Plan
Patents are not the problem.
https://marginalrevolution.com/marginalrevolution/2021/05/ip-is-not-the-constraint.html
Here is a
counterpoint; though notably absent from the presentation is the issue of the
incentive (profit) to discover the vaccine in the first place and/or the
incentive to do the same when the next pandemic occurs.
The governments
Ponzi gamble.
Jeff Gundlach on Biden’s plan.
Jamie Dimon on Biden’s plan.
Inflation
Inflation or not?
http://pointsandfigures.com/2021/05/05/inflation-or-is-it-inflation/
The
coronavirus
Deaths
and lockdown.
https://americanconsequences.com/death-and-lockdowns-john-tierney/
Bottom line.
Update on valuations.
https://www.advisorperspectives.com/dshort/updates/2021/05/06/is-the-market-still-overvalued
The limits of
investing sanity.
https://www.collaborativefund.com/blog/the-limits-of-investing-sanity/
News on Stocks in Our Portfolios
Nike (NYSE:NKE) declares $0.275/share quarterly dividend,
in line with previous.
C.H. Robinson Worldwide (NASDAQ:CHRW) declares $0.51/share quarterly dividend,
in line with previous.
What
I am reading today
Why British common law
aids innovation.
https://www.adamsmith.org/blog/we-agree-with-the-sentiment-but-not-the-specifics
The fifty best
sitcoms of all time.
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for Survival’s website (http://investingforsurvival.com/home)
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