The Morning Call---Is the worst over for bonds?

 

The Morning Call

 

6/23/22

 

 

The Market

         

    Technical

 

Wednesday in the charts.

https://www.zerohedge.com/markets/stocks-dumpnpumpndump-bonds-soar-theres-just-one-thing

 

Bears taking over options market.

https://www.zerohedge.com/markets/bears-are-taking-over-options-market

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly initial jobless claims totaled 229,000 versus expectations of 227,000.

 

Month to date retail chain store sales grew more rapidly than in the prior week.

 

                        International

 

The June Japanese flash manufacturing PMI was 52.7 versus estimates of 53.1; the flash service PMI was 54.2 versus 52.3; the flash composite PMI was 53.2 versus 51.9.

 

June EU flash consumer confidence was -23.5 versus consensus of -20.5; the June flash manufacturing PMI was 52.0 versus 53.9; the flash service PMI was 52.8 versus 55.5; the flash composite PMI was 51.9 versus 54.0.

 

The June German flash manufacturing PMI was 52.0 versus projections of 54.0; the flash service PMI was 52.4 versus 54.5; the flash composite PMI was 51.3 versus 53.1.

 

The June UK flash manufacturing PMI was 53.4 versus forecasts of 53.7; the flash service PMI was 53.4 versus 53.0; the flash composite PMI was 53.1 versus 52.6.

 

                        Other

 

            The Fed

 

              Economists expect another 75 basis point hike in July.      

              https://finance.yahoo.com/news/fed-lift-rates-75-basis-001415420.html

 

     Bottom line

 

            When do stocks bottom?

            https://theirrelevantinvestor.com/2022/06/20/when-do-stocks-bottom/

 

            Is the worst over for bonds?

            https://www.institutionalinvestor.com/article/b1yl2f04qykrhy/Bonds-Just-Had-Their-Worst-Year-Is-it-Enough-to-Make-Them-Attractive-Again

 

Part 2.

https://www.zerohedge.com/the-market-ear/cnwjpqim4s

 

            How risky are high yield bonds?

            https://www.advisorperspectives.com/commentaries/2022/06/22/what-does-8-yield-pay-for

 

    News on Stocks in Our Portfolios

 

Accenture press release (NYSE:ACN): FQ3 GAAP EPS of $2.79 misses by $0.04.

Revenue of $16.16B (+21.9% Y/Y) beats by $200M.

 

Accenture (NYSE:ACN) declares $0.97/share quarterly dividend, in line with previous.

 

What I am reading today

 

           

 

 

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