Friday, June 18, 2021

The Morning Call----Fed confusion

 

The Morning Call

 

6/18/21

 

I was travelling yesterday, so the note is very short.

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/markets/market-mayhem-gamma-hammer-sparks-post-powell-puke

 

            Beware today’s quad witching.

            https://www.zerohedge.com/markets/whats-behind-todays-crazy-market-move

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          The May leading economic indicators were reported at +1.3%, in line.

 

                        International

 

                          May Japanese CPI was +0.3% versus -0.4% recorded in April.

 

                          May German PPI was up 1.5% versus estimates of +0.7%.

 

May UK retail sales fell 1.4% versus expectations of +1.6%; ex fuel, they were -2.1% versus +1.5%.

 

                        Other

 

            The Fed

 

              Speaking of moving the goalposts.

              https://www.zerohedge.com/markets/fed-promoting-public-perception-inflation-false-fed-admits-it-new-forecasts

 

              Even more.

              https://www.zerohedge.com/markets/stocks-accelerate-losses-feds-bullard-admits-tilted-more-hawkish

 

            Inflation

              The latest BofA inflation meter reading.

              https://www.zerohedge.com/economics/bofas-new-inflation-meter-shows-transitory-hyperinflation

 

    News on Stocks in Our Portfolios

 

AbbVie (NYSE:ABBV) declares $1.30/share quarterly dividend, in line with previous.

What I am reading today

 

            Chinese defector providing terabytes of info.

            https://www.zerohedge.com/political/chinese-defectors-identity-confirmed-was-top-counterintelligence-official-redstate

 

 

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