The Morning Call--Ukraine narrative starting to switch

 

The Morning Call

 

5/27/22

 

 

The Market

         

    Technical

 

            Thursday in the charts.

            https://www.zerohedge.com/markets/massive-short-squeeze-sends-stocks-soaring-macro-massacre-continues

 

            Insiders are buying the dip.

            https://www.zerohedge.com/markets/insiders-are-buying-dip

 

            So are retail investors.

            https://www.zerohedge.com/markets/thank-retail-investors-sp-not-bear-market-and-all-those-last-hour-ramps

 

            Short squeeze coming?

            https://www.zerohedge.com/the-market-ear/cshn3gc7k

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          April pending home sales fell 3.9% versus consensus of -2.0%

 

April personal income was up 0.4% versus estimates of +.5%; personal spending was +0.9% versus +0.7%; the PCE price index was +0.3%, in line.

 

The May Kansas City Fed manufacturing index came in at 19 versus expectations of 23.          

 

                        International

 

April Chinese YTD YoY industrial profits were up 3.5% versus projections of +2.0%.

 

May Japanese YoY CPI was +2.4%, in line; ex food and energy it was up 0.3% versus +0.7%.

 

                        Other

 

                          The latest Q2 nowcasts.

                          https://www.capitalspectator.com/us-economy-still-on-track-for-moderate-rebound-in-q2/

 

            The Fed

 

              M2 growth slows.

              https://scottgrannis.blogspot.com/2022/05/m2-growth-slows-light-at-end-of.html

 

              Signs of a policy mistake.

              https://www.zerohedge.com/the-market-ear/cdb6lv4x3p

           

            Inflation

 

              More on peak inflation.

              https://ritholtz.com/2022/05/has-inflation-peaked/

 

            Geopolitics

 

              The Ukraine narrative starting to switch.

              https://www.zerohedge.com/military/wapo-stunning-first-admits-catastrophic-conditions-collapsing-morale-ukraine-forces-front

 

              And.

              https://www.zerohedge.com/political/americans-are-increasingly-wary-us-efforts-harm-russia-causing-economic-damage-america

 

    News on Stocks in Our Portfolios

 

 

What I am reading today

 

           

 

 

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