The Morning Call
3/1/22
The
Market
Technical
Monday in the
charts.
Buying
opportunity?
https://www.zerohedge.com/the-market-ear/czdfxqxxgy
Bond spreads are
widening.
http://www.athrasher.com/bond-spreads-are-widening/
Goldman says gold
the currency of last resort.
Fundamental
Headlines
The
Economy
US
The February Chicago PMI was reported at 56.3
versus forecasts of 63.0.
The February Dallas
Fed manufacturing index was 14 versus
projections of 1.
International
The February Japanese
manufacturing PMI came in at 52.7, in line; the February EU manufacturing PMI
was 58.2 versus 58.4; the February UK manufacturing PMI was 58.0 versus 57.3;
the February Chinese manufacturing PMI was 50.2 versus 49.9; the February
Chinese nonmanufacturing PMI was 51.6 versus 51.5; the February Chinese
composite PMI was 51.2 versus 51.3; the February Chinese Caixin (small
business) manufacturing PMI was 50.4 versus 49.3.
Preliminary
February German CPI was +0.9%, in line.
Other
Regional Fed manufacturing overview.
How ‘money’ gets valued.
The
Fed
The Fed’s historic error.
Inflation
Corporations are raising prices as consumers
spend with a vengeance
https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.html
Geopolitics
Why Ukraine
matters (a good article except for the last
paragraph which drifts into US domestic politics).
https://quillette.com/2022/02/26/why-ukraine-matters/
War in Ukraine threatens new shortages.
https://www.wsj.com/articles/war-ukraine-supply-chain-russia-oil-11645995369
Have the Germans finally figured it out?
https://www.zerohedge.com/energy/germany-goes-full-energy-policy-overhaul-amid-ukraine-crisis
The
coronavirus
The fog of ignorance.
https://www.adamsmith.org/blog/the-fog-of-ignorance-argument-for-minarchy
Bottom line.
A challenging
March/April.
News on Stocks in Our Portfolios
Hormel Foods press release (NYSE:HRL): Q1 GAAP EPS of
$0.44 in-line.
Revenue of $3.04B (+23.6% Y/Y) beats by $120M.
Bank of Nova Scotia press release (NYSE:BNS): Q1 Non-GAAP EPS of
C$2.15 beats
by C$0.10.
Revenue of C$8.05B (-0.2% Y/Y) beats by C$180M.
Bank of Nova Scotia (NYSE:BNS) declares CAD 1.00/share quarterly dividend, in line with
previous.
What
I am reading today
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