The Morning Call
6/7/22
The
Market
Technical
Monday in the
charts.
https://www.zerohedge.com/markets/bitcoin-bond-yields-soar-stocks-puke-payrolls-gains
How much longer
will we be in a bear market?
https://allstarcharts.com/12-months-of-no-progress/
Hedge funds going
net short Treasuries.
Dr. Copper
rebounds.
https://allstarcharts.com/first-high-yield-bonds-now-dr-copper/
Time to care about
the dollar.
https://www.zerohedge.com/the-market-ear/cepnisuma3
Fundamental
Headlines
The
Economy
US
The April trade
balance was -$87.1 billion versus estimates of -$89.5 billon.
International
April
Japanese household spending rose 1.0% versus expectations of +1.3%; the April
preliminary leading economic indicators
were 102.9 versus 101.0.
April
German factory orders fell 2.7% versus predictions of +0.3%; the May
construction PMI was 45.4 versus 47.2.
The
May EU construction PMI was 49.2 versus consensus of 50.7.
The
May UK final services PMI was 53.4 versus estimates of 51.8; the final
composite PMI was 53.1 versus 51.8.
Other
Real hourly earnings in May.
https://econbrowser.com/archives/2022/06/real-hourly-earnings-in-may
Update on big four economic indicators.
May rail carloads down.
https://www.calculatedriskblog.com/2022/06/aar-may-rail-carloads-and-intermodal.html
Housing costs/household income near highs.
https://www.calculatedriskblog.com/2022/06/black-knight-mortgage-monitor-housing.html
Housing inventories up YoY.
https://www.calculatedriskblog.com/2022/06/housing-inventory-june-6th-update.html
Update on four high frequency economic
indicators.
https://www.calculatedriskblog.com/2022/06/four-high-frequency-indicators-for.html
Inflation
Natural gas prices soaring.
https://www.zerohedge.com/commodities/perfect-storm-factors-sends-us-natural-gas-prices-soaring
Citi and Barclay’s raise crude oil price forecasts.
So does Goldman.
Bottom line
Update on
valuations.
https://www.advisorperspectives.com/dshort/updates/2022/06/06/is-the-market-still-overvalued
Concealing
volatility.
https://alephblog.com/2022/06/05/concealing-volatility/
Morgan Stanley’s
Wilson sticks with his S&P 3400 forecast.
News on Stocks in Our Portfolios
Cisco (NASDAQ:CSCO) declares $0.38/share quarterly dividend, in line with previous.
What
I am reading today
The
first privately funded spotter of killer asteroids is here.
https://www.wired.com/story/the-first-privately-funded-killer-asteroid-spotter-is-here/
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
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