The Morning Call--The coming threat to your portfolio

 

The Morning Call

 

6/15/21

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/big-tech-bitcoin-pumped-banks-bonds-bullion-dumped

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

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

 

May consumer inflation expectations  were +4.0% versus +3.4% recorded in April.

 

May retail sales declined 1.3% versus expectations of -0.8%; ex autos, they were -0.7% versus +0.2%.

https://www.zerohedge.com/personal-finance/gonna-need-more-stimmies-us-retail-sales-plunged-may

 

May CPI was 0.7% versus estimates of +0.5%; May PPI was +0.8% versus +0.6%.

https://www.zerohedge.com/personal-finance/us-producer-prices-soar-record-pace-may-led-food-energy

 

The June NY Fed manufacturing index was reported at 17.4 versus forecasts of 23.0.

 

                        International

 

April UK average earnings rose 5.6% versus predictions of +4.9%; the April unemployment rate was 4.7%, in line.

 

The April EU trade balance was +E10.9 billion versus +E22.9 billion in March.

 

                          May German CPI came in at +0.5%, in line.

 

                        Other

 

                          Update on seven high frequency economic indicators.

                          https://www.calculatedriskblog.com/2021/06/seven-high-frequency-indicators-for_14.html

 

            The Fed

 

              What the Fed has wrought.

              https://www.zerohedge.com/markets/seven-things-nobody-talks-about-will-eventually-matter-lot

 

            Fiscal Policy

 

              Student loans are the governments largest asset.

              https://www.advisorperspectives.com/dshort/commentaries/2021/06/14/the-feds-financial-accounts-what-are-uncle-sams-largest-assets

 

            Inflation

 

              Will inflation be transitory?

              http://www.capitalspectator.com/is-inflation-still-transitory-new-data-raise-more-questions/

 

                  Paul Tudor Jones thinks not.

              https://www.zerohedge.com/markets/things-are-bat-shit-crazy-right-now-paul-tudor-jones-likes-bitcoin-debunks-transitory

 

                  More reasons why it may not be.

              https://www.zerohedge.com/markets/5-reasons-why-treasury-yields-tumbled-even-inflation-surges-and-isnt-transitory

 

                  Inflation is too high; money is too loose.

              https://global-macro-monitor.com/2021/06/13/feels-like-1977-inflation-too-high-money-too-loose/

 

                  Markets are leaving little room for the Fed to be wrong on inflation.

              https://www.wsj.com/articles/markets-are-leaving-little-room-for-the-fed-to-be-wrong-on-inflation-11623585874

 

     Bottom line.

 

            The coming threat to your portfolio.

            https://americanconsequences.com/dr-david-eifrig-this-threat-is-coming-after-your-portfolio/

 

 

    News on Stocks in Our Portfolios

         

            T. Rowe Price (NASDAQ:TROW) declares $3.00/share special dividend.

FedEx (NYSE:FDX) declares $0.75/share quarterly dividend, 15.4% increase from prior dividend of $0.65.

What I am reading today

 

            More on bitcoin.

            https://www.pragcap.com/three-things-i-think-i-think-bitcoin-memes-and-inflation/

 

                Quote of the day.

            https://cafehayek.com/2021/06/quotation-of-the-day-3563.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

 

 

               

 

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