The Morning Call--Peak central bank support

 

The Morning Call

 

6/29/21

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/dow-dumps-nasdaq-jumps-bonds-bitcoin-bounce-back

 

            Market breadth is weakening.

            https://sentimentrader.com/blog/this-led-to-declines-every-time-in-the-past-93-years/

 

            Buybacks soar.

            https://www.zerohedge.com/the-market-ear/colpf4xcwt

 

            Why the yield curve is likely to re-steepen and what the means for stocks.

            https://www.knowledgeleaderscapital.com/2021/06/25/heres-why-the-yield-curve-is-likely-to-re-steepen-and-what-that-means-for-stocks/

 

            Is a short squeeze coming in the dollar?

            https://www.zerohedge.com/the-market-ear/cuspr6phao

 

            Basel III regulations (for gold) finally kick in.

            https://www.zerohedge.com/commodities/basel-iii-regulations-finally-kick-what-means-gold

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          Month the date retail chain store sales grew faster than in the prior week.

 

The June Dallas Fed manufacturing index was reported at 31.1 versus 34.9 recorded in May.

                          https://www.advisorperspectives.com/dshort/updates/2021/06/28/june-dallas-fed-manufacturing

 

                        International

 

May Japanese unemployment came in at 3.0% versus estimates of 2.9%; May retail sales fell 0.4% versus -4.6% in April.

 

June EU consumer confidence was -3.3, in line; June economic sentiment was 117.5 versus 116.5; industrial sentiment was 12.7 versus 12.3; services sentiment was 17.9 versus 14.8.

 

June German CPI was +0.4%, in line.

 

                        Other

 

                          Update on business cycle indicators.

                          https://econbrowser.com/archives/2021/06/business-cycle-indicators-as-of-june-27

 

                          The June regional Fed bank manufacturing overview.

                          https://www.advisorperspectives.com/dshort/updates/2021/06/28/june-regional-fed-manufacturing-overview

    

                          Update on seven high frequency economic indicators.

                          https://www.calculatedriskblog.com/2021/06/seven-high-frequency-indicators-for_28.html

 

            The Fed

 

              Peak central bank support (until the next selloff).

              https://www.bloomberg.com/news/articles/2021-06-26/peak-central-bank-support-marks-new-phase-for-global-recovery?srnd=economics-vp&sref=loFkkPMQ

 

              Will the Fed get burned again?

              https://www.zerohedge.com/economics/john-taylor-fed-getting-burned-again

 

     Bottom line.

 

            Summary of Strategic Investment conference.

            https://www.advisorperspectives.com/commentaries/2021/06/25/long-humanity

 

            Thoughts on speculation.

            https://alephblog.com/2021/06/25/welcome-to-our-country-club/

 

            More thoughts.

            https://read.lukeburgis.com/p/mimetic-stocks-not-meme-stocks

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

            Quote of the day.

            https://cafehayek.com/2021/06/quotation-of-the-day-3555.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

 

            A look at Iran’s new president.

            https://www.washingtonpost.com/opinions/2021/06/25/ebrahim-raisi-khamenei-iran-president-supreme-leader/

 

            Focused goal setting.

            http://traderfeed.blogspot.com/2021/06/figs-focused-intensive-goal-setting.html

 

            An interview with one of crypto’s top VCs.

            https://www.nytimes.com/2021/06/26/business/dealbook/katie-haun-crypto.html

 

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