The Morning Call--The Atlanta Fed lowers its Q2 GDP growth forecast----again.

 

The Morning Call

 

6/8/22

 

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/stocks-bonds-spike-growthstagflation-scares-soar

                       

            This technical indicator is pointing towards a bottom.

            https://investorplace.com/2022/06/this-clue-points-toward-a-bottom/?utm_source=rcm&utm_medium=editorial

 

            Liquidity is terrible.

            https://www.ft.com/content/cbc47bbf-f158-4330-9e29-5b0b71935140

 

            European yield spreads blow out (must read).

            https://www.zerohedge.com/markets/eurozone-yield-spreads-blow-out-its-another-crisis-greece-and-italy

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications declined 6.5% while purchase applications were down 7.1%.

 

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

 

                        International

 

Final Q1 Japanese GDP growth was -0.1% versus projections of -0.3%; final Q1 capital expenditures were off 0.7% versus +0.3%; Q1 final private consumption was up 0.1% versus 0.0%.

 

The third estimate of EU Q1 GDP growth was +0.6% versus consensus of +0.3%; the final Q1 employment change was +0.6% versus +0.5%.

 

April German industrial production rose 0.7% versus expectations of +0.1%.

 

The May UK construction PMI was 56.4 versus forecasts of 56.6.

 

                        Other

 

                          A Goldilocks job market?

                          https://www.tker.co/p/jobs-market-wage-growth-just-right?s=r

 

                          Vehicle sales per capita.

                          https://www.advisorperspectives.com/dshort/updates/2022/06/06/vehicle-sales-per-capita-as-of-may-2022

 

                          Global growth inches higher in May.

     https://ihsmarkit.com/research-analysis/global-growth-inches-higher-in-may-as-loosened-covid-restrictions-boost-demand-for-services-and-   downturns-ease-in-china-and-russia-June22.html

 

                                                     Tuesday in the economic charts.

                           https://compoundadvisors.com/2022/7-chart-monday-6-6-22

                                     

                                                   Consumer credit soars (must read).

                          https://www.zerohedge.com/economics/shocking-consumer-credit-numbers-everyone-maxing-out-their-credit-card-ahead-recession-0

 

                                                  And getting squeezed.

                          https://www.zerohedge.com/personal-finance/consumer-getting-squeezed

 

 

                                             Atlanta Fed lowers Q2 GDP estimate again.

                          https://www.zerohedge.com/markets/atlanta-fed-slashes-q2-gdp-again-now-just-09-away-official-recession

 

            Inflation

 

              More on housing affordability.

              https://politicalcalculations.blogspot.com/2022/06/mortgage-payments-for-median-new-homes.html#.Yp-So3bMKUk

 

 

     Bottom line

 

            For the bulls: Uncertainty, risk and opportunity.

            https://alhambrapartners.com/2022/06/06/weekly-market-pulse-risk-uncertainty-opportunity/

 

            The total return roller coaster.

            https://www.advisorperspectives.com/dshort/updates/2022/06/06/the-latest-look-at-the-total-return-roller-coaster

 

            Know the counter argument for any investment.

            http://mrzepczynski.blogspot.com/2022/06/know-counter-argument-for-any-investment.html

 

            Live by the sword.

            https://thereformedbroker.com/2022/06/07/live-by-the-sword/

 

            If investors are so terrified, why aren’t they selling? Or it ain’t over till it is over.

            https://www.zerohedge.com/markets/investors-are-terrified-so-why-arent-they-selling

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

           

 

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.