The Morning Call--Is this dip different?

 

The Morning Call

 

1/21/22

 

 

The Market

         

    Technical

                

            Thursday in the charts.

             https://www.zerohedge.com/markets/bitcoin-jumps-stocks-pumpndump-us-macro-slumps

 

            The puke.

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

 

            Is this dip different?

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

 

The bond market is calling the Fed’s bluff (this first part of this article is a sales routine; skip over it).

https://americanconsequences.com/greg-diamond-the-bond-market-is-calling-the-feds-bluff/

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          December existing home sales fell 4.6% versus estimate of -2.0%.

                          https://www.advisorperspectives.com/dshort/updates/2022/01/20/existing-home-sales-down-6-from-november-and-8-3-yoy

 

                        International

 

                          December Japanese CPI was +0.1% versus expectations of +0.2%.

 

December UK retail sales fell 3.7% versus estimates of -0.6%; ex fuel, they were down 3.6% versus -0.5%; January consumer confidence was -19 versus -15.

 

                        Other

 

China

 

  China cuts benchmark rates.

  https://www.wsj.com/articles/china-cuts-benchmark-rate-to-bolster-flagging-economy-11642668631

 

The coronavirus

 

  Public health’s truth problem.

  https://www.city-journal.org/public-healths-truth-problem?skip=1

 

     Bottom line.

 

            Do you own stocks in the right country?

            https://allstarcharts.com/do-you-own-stocks-in-the-right-country/

 

            Let the fun begin.

            https://www.advisorperspectives.com/commentaries/2022/01/20/let-the-wild-rumpus-begin

 

In an inflationary environment, value stocks offer refuge.

https://www.institutionalinvestor.com/article/b1wd19khdzwj89/In-an-Inflationary-Environment-Value-Stocks-Offer-a-Refuge

 

            Remember leverage cuts both ways.

            https://www.zerohedge.com/the-market-ear/cr-uumfony

 

Here is another study supporting the thesis that excessive debt level stymie economic growth (must read).

                        https://www.zerohedge.com/economics/lacy-hunt-negative-real-rates-are-strong-recession-warning

 

    News on Stocks in Our Portfolios

 

McDonald's (NYSE:MCD) declares $1.38/share quarterly dividend, in line with previous.

 

What I am reading today

 

            Congressional overreach (must read).

            https://www.zerohedge.com/political/greenwald-congresss-16-committee-claims-absolute-power-it-investigates-citizens-no

 

                Quote of the day.

            https://cafehayek.com/2022/01/quotation-of-the-day-3776.html?utm_source=feedburner&utm_medium=email

 

                        NASA’s Mars rover’s latest discovery.

            https://www.zerohedge.com/technology/nasas-curiosity-rover-finds-tantalizing-carbon-signs-possible-ancient-life-mars

 

 

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