The Morning Call
The
Market
Technical
Tuesday in the charts.
https://www.zerohedge.com/markets/bitcoin-bonds-big-tech-bullion-bid-powells-goldilocks-testimony
Global bond markets brace for supply floodgates
to open.
Fundamental
Headlines
The
Economy
US
Weekly mortgage
applications rose 1.4% while purchase applications were down 0.1%.
Month to date
retail chain store sales grew less rapidly than in the prior week.
December CPI came
in at +0.5% versus forecasts of +0.4%; core CPI was +0.6% versus +0.5%.
International
November EU
industrial production was up 2.3% versus estimates of +0.5%.
December Chinese CPI
declined 0.3% versus consensus of +0.2%.
Other
The
Fed
The Fed’s policy shortfall.
https://www.zerohedge.com/markets/fed-funds-rate-around-4-we-may-have-moved-brash-new-era
Inflation
The affordability of new homes continues to decline.
For those
concerned about monetary policy, this article is great to compare and contrast with
the thesis laid out in the Scott Grannis one I linked to in Monday Morning
Chartology. The issue here is not whether someone will buy US bonds---the
author certainly makes a great case for why there will always be demand them. The
issue is if investors are fearful of inflation, they won’t want to hold money (bonds)
but rather buy goods (meaning the velocity of money will accelerate), driving
the prices of goods up (inflation) and they will have to sell those bonds at
lower prices (higher interest rates) to pay for those goods.
https://www.pragcap.com/who-will-buy-the-bonds/
The
coronavirus
A thought on vaccines.
If you doubted the covid headlines you were correct.
https://www.zerohedge.com/covid-19/it-turns-out-if-you-doubted-covid-headlines-you-were-correct
The covid survival
rate for those under twenty is 99.9987%.
Bottom line.
More insight from
Barry Ritholtz.
https://ritholtz.com/2022/01/the-post-normal-economy/
Paul Tudor Jones
warns.
The latest from
Morgan Stanley.
https://www.zerohedge.com/markets/here-are-two-things-can-crush-feds-hiking-plans
The latest from
Jeff Gundlach.
https://www.zerohedge.com/markets/i-feel-young-again-jeff-gundlach-annual-just-markets-webcast-live
News on Stocks in Our Portfolios
What
I am reading today
As you know, I believe
that monetary and fiscal policies over the last decade have unfairly benefited
the rich. The solution is to change the policies not to confiscate the wealth.
https://www.adamsmith.org/blog/sorry-claudia-billionaires-have-the-right-to-exist
IRS
warns of a messy tax season.
https://www.nytimes.com/2022/01/10/business/income-tax-day-deadline.html
Weather
and climate disasters are declining globally.
https://reason.com/2022/01/07/weather-and-climate-disasters-are-declining-globally/
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
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