The Morning Call---Lessons on inflation

 

The Morning Call

 

7/2/21

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/markets/dollar-stocks-bid-start-h2-crypto-bounce-crumbles

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          May construction spending fell 0.3% versus estimates of +0.4%.

                          https://www.calculatedriskblog.com/2021/07/construction-spending-increased-02-in.html

 

The May trade balance was -$71.2 billion versus expectations of -$71.4 billion.

 

                          The June manufacturing PMI came in at 62.1 versus projections of 62.6.

https://www.advisorperspectives.com/dshort/updates/2021/07/01/may-markit-manufacturing-output-growth-eases- as-supply-chain-disruption-worsens

 

                         The June ISM manufacturing index was 60.6 versus forecasts of 61.0.

                          https://www.advisorperspectives.com/dshort/updates/2021/07/01/june-ism-manufacturing-index-supplier-deliveries-slowing-backlog-growing

 

June nonfarm payrolls rose 850,000 versus consensus of +700,000; the unemployment rate was 5.9% versus 5.7%.

 

 

                        International

 

                          May EU PPI was reported at +1.3% versus predictions of +1.2%.

 

                        Other

 

                          May median household income.

                          https://politicalcalculations.blogspot.com/2021/07/median-household-income-in-may-2021.html#.YN382ehKiUk

 

            Inflation

 

              Lessons on inflation (must read).

              http://scottgrannis.blogspot.com/2021/06/argentine-inflation-lessons-for-us.html

 

              The looming stagflation debt crisis.

              https://www.project-syndicate.org/commentary/stagflation-debt-crisis-2020s-by-nouriel-roubini-2021-06?utm_source=project-syndicate.org&utm_medium=email&utm_campaign=authnote&

 

              Commodity inflation---beyond transitory.

              https://www.zerohedge.com/the-market-ear/ckgl0nuzkv

 

              Unstoppable oil.

              https://www.zerohedge.com/commodities/unstoppable-oil-could-be-nail-coffin-stocks

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

            The casualties of perfection.

            https://www.collaborativefund.com/blog/inefficient/

 

 

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