The Morning Call---Bailouts and the demise of capitalism

 

The Morning Call

 

 

3/29/22

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/oil-gold-slapped-lower-ruble-crypto-growthy-stocks-rocket-higher

 

            Tuesday preview.

            https://www.zerohedge.com/geopolitical/stocks-jump-oil-dumps-over-russia-ukraine-peace-talks-optimism

 

            Bond rout deepens.

            https://www.bloomberg.com/news/articles/2022-03-27/global-bond-rout-sends-australian-yields-to-highest-since-2014?srnd=premium&sref=loFkkPMQ

 

            US government debt selloff worsens.

            https://www.ft.com/content/51941a25-fb53-472b-84ef-42595f465b8e

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The March Dallas Fed manufacturing index was reported at 8.7 versus expectations of 17.

                          https://www.advisorperspectives.com/dshort/updates/2022/03/28/march-dallas-fed-manufacturing-expansion-continues

 

                        International

 

The February Japanese unemployment rate was 2.7% versus estimates of 2.8%.

 

April German consumer confidence was -15.5 versus projections of -14.0.

 

                        Other

 

                          Europe’s economy slows.

                          https://www.wsj.com/articles/europes-economy-slows-as-russian-invasion-sends-costs-soaring-11648126271

 

            Fiscal Policy

 

              Bailouts and demise of capitalism (must read).

              https://www.advisorperspectives.com/commentaries/2022/03/28/bailouts-and-the-demise-of-capitalism-and-free-markets

 

     Bottom line.

 

            Bad tidings from the bond market.

            https://www.nytimes.com/2022/03/25/business/bond-market-inflation-recession.html

 

            The salience bias.

            https://www.riaintel.com/article/b1x9pbwff8p1vz/themes-memes-and-shiny-things

 

    News on Stocks in Our Portfolios

 

Hormel Foods (HRL) declares $0.26/share quarterly dividend, in line with previous.

What I am reading today

 

            Where did this idea come from?

            https://www.pragcap.com/three-things-i-think-i-think-where-did-this-idea-come-from/

 

                        How to get tough on crime.

            https://marginalrevolution.com/marginalrevolution/2022/03/how-to-get-tough-on-crime.html

 

                        Bitcoin’s lockstep march with stocks undermines its usefulness.

            https://www.institutionalinvestor.com/article/b1x9nhtt0h1v9s/Bitcoin-s-Lockstep-March-With-Stocks-Raises-Thorny-Questions-About-Its-Usefulness

 

 

 

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