Wednesday, November 30, 2022

The Morning Call---Profligacy in lockstep

 

The Morning Call

 

11/30/22

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/stocks-bonds-sink-global-yield-curve-inverts-first-time-decades

 

            JP Morgan’s trading desk sees lower equity prices.

            https://www.zerohedge.com/the-market-ear/cadlfkd8ri

 

            Margin debt down in October.

            https://www.advisorperspectives.com/dshort/updates/2022/11/28/margin-debt-down-2-2-in-october

 

            Global yield curve inverts.

            https://www.bloomberg.com/news/articles/2022-11-29/global-yield-curve-inverts-in-signal-a-recession-is-brewing?srnd=premium&sref=loFkkPMQ

 

            Who is buying all that gold?

            https://www.marketplace.org/2022/11/22/somebodys-been-on-a-gold-buying-bender-its-not-clear-who-or-why/

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications fell 0.8% while purchase applications were up 3.8%.

 

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

 

The September Case Shiller home price index fell 1.5% versus consensus of -0.9%.

                          https://www.calculatedriskblog.com/2022/11/case-shiller-national-house-price-index.html

 

The second estimate of Q3 GDP growth was +2.9% versus forecasts of +2.7%; corporate profits were down 0.2% versus +3.1%; the PCE price index was +4.3% versus +4.2%; core PCE index was +4.6% versus +4.5%; real consumer spending was +1.7% versus +1.4%

 

November consumer confidence came in at 100.2 versus  projections of 100.0.

                          

The November ADP private payroll report showed job increases of   127,000 versus estimates of 200,000.

 

                        International

 

Preliminary October Japanese industrial production was -2.6% versus expectations of -1.5%.

 

October German unemployment  was 5.6% versus predictions of 5.5%.

 

The November Chinese manufacturing PMI was 48 versus consensus of 49; the nonmanufacturing PMI was 46.7 versus 49.0.

 

The flash November EU CPI was -0.1% versus forecasts of +0.2%.

 

                        Other

 

            The Fed

 

              Profligacy in lockstep.

              https://lawliberty.org/profligacy-in-lockstep/

 

              Fed Williams says inflation fight could last until 2024.

              https://www.wsj.com/articles/fed-officials-discuss-outlook-for-inflation-interest-rates-11669654763?mod=economy_lead_story

 

 

             Fiscal Policy

 

               What happened to all the Ukrainian aid?

               https://www.zerohedge.com/political/rand-paul-calls-out-complete-lack-oversight-ukraine-aid

 

     Bottom line

 

            Beware of the bear.

            https://www.zerohedge.com/markets/next-secular-bear-market-may-be-upon-us

 

            Time to look overseas?

            https://alhambrapartners.com/2022/11/28/weekly-market-pulse-currency-illusion/

 

            An interview with three well known money managers.

            https://fortune.com/longform/best-investments-for-2023-inflation-investing-advice-esg-philanthropy/?2n6jw9

 

    News on Stocks in Our Portfolios

 

 

What I am reading today

 

           

                        For you music lovers.

            https://www.zerohedge.com/technology/heres-every-song-over-1-billion-spotify-streams

 

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

 

 

 

No comments:

Post a Comment