Tuesday, March 22, 2022

The Morning Call--Are we already in a recession?

 

The Morning Call

 

3/22/22

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/bonds-stocks-battered-powell-goes-full-volcker-crude-surges

 

            A deeper look at the Market internals.

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

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Month to date retail chain store sales grew a roughly the same pace as in the prior week.

 

                        International

 

January EU YoY construction output rose 4.1% versus consensus of -0.5%.

 

March UK industrial trends orders index came in at 26 versus predictions of 16.             

 

                        Other

 

                          Are we already in a recession?

                          https://www.advisorperspectives.com/commentaries/2022/03/21/recession-risk-rising-rapidly-or-could-we-be-in-one-already

 

                          Brace for a recession.

                          https://www.advisorperspectives.com/commentaries/2022/03/18/brace-for-recession-impact?firm=mauldin-economics

 

            The Fed

 

In a speech before the National Association of Business Economic, Powell doubled down on hawkish view.

https://www.zerohedge.com/economics/watch-live-fed-chair-powell-speaks-economic-conference

 

            Inflation

 

              Four reasons why high inflation will persist in 2022.

              https://fullstackeconomics.com/four-reasons-well-get-high-inflation-again-in-2022/

 

              Repeating old mistakes.

              https://www.city-journal.org/repeating-old-oil-mistakes

 

              The bird flu has already claimed 12 million chickens and turkeys.

              https://www.zerohedge.com/medical/death-toll-rises-over-12-million-chickens-and-turkeys-2nd-month-americas-horrific-bird-flu

 

              What can the Fed do about the price of food, gasoline, medicine or rent?

              https://www.zerohedge.com/personal-finance/what-can-fed-do-about-price-food-medicine-gasoline-or-rent

 

              Dust Bowl conditions threaten winter wheat harvest.

              https://www.zerohedge.com/weather/severe-drought-dust-bowl-conditions-threaten-disastrous-winter-wheat-harvest-us

 

            Geopolitics

 

              David Stockman gives another lesson on the history of Ukraine.

              https://www.zerohedge.com/geopolitical/stockman-slams-zelenskyys-hyperbole-pearl-harbor-my-eye

 

 

    News on Stocks in Our Portfolios

 

Nike press release (NYSE:NKE): FQ3 GAAP EPS of $0.87 beats by $0.15.

Revenue of $10.87B (+4.9% Y/Y) beats by $260M.

 

What I am reading today

 

           

 

 

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