Friday, July 16, 2021

The Morning Call---Powell's fantasy camp

 

The Morning Call

 

7/16/21

 

 

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/markets/fed-fumble-slams-stocks-bond-yields-big-shorts

 

            Technically speaking.

            https://www.advisorperspectives.com/commentaries/2021/07/15/technically-speaking-is-the-retail-investor-rampage-over

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

June industrial production was up 0.4% versus estimates of +0.6%; capacity utilization was 75.4% versus 75.6%.

                          https://www.calculatedriskblog.com/2021/07/industrial-production-increased-04.html

 

June retail sales rose 0.6% versus consensus of -0.4%; ex autos, they were up 1.3% versus +0.4%.

                                   https://www.zerohedge.com/economics/us-retail-sales-surprise-upside-after-big-downward-revision-auto-sales-slump

 

                        International

 

The May EU trade balance was +E7.5 billion versus +E10.9 recorded in April; June CPI was +0.3%, in line.

           

                        Other

 

                          Update on big four economic indicators.

                          https://www.advisorperspectives.com/dshort/updates/2021/07/15/the-big-four-industrial-production-up-0-44-in-june

 

                          June LA port traffic report.

                          https://www.calculatedriskblog.com/2021/07/la-area-port-traffic-solid-imports-weak.html

 

The Fed

 

  Stop buying mortgage backed securities.

  https://thereformedbroker.com/2021/07/14/buying-mortgage-backed-securities-is-boomer-stimulus/

 

              And stop saying the inflation is transitory.

              https://www.pragcap.com/the-fed-should-stop-using-the-term-transitory/

 

In yesterday’s senate testimony, Powell insists that he is not concerned about the rising cost of living.

              https://www.zerohedge.com/markets/watch-live-powell-defends-feds-policy-approach-senate-banking-committee

 

            Inflation

 

              Persistent not transitory inflation.

              https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded

 

              Is the commodity rally near its end?

              https://www.zerohedge.com/markets/calling-end-commodity-rally-not-so-fast

 

     Bottom line.

 

            The latest from Jeff Gundlach.

            https://www.zerohedge.com/markets/gundlach-warns-dollar-doomed-stocks-are-nosebleed-levels

 

            Size your expectations to your resources.

            https://alephblog.com/2021/07/15/the-rules-part-lxxi/

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

           

 

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