The Morning Call---An accident waiting to happen

 

The Morning Call

 

3/21/23

 

The Market

         

    Technical

 

`           Monday in the charts.

            https://www.zerohedge.com/markets/bitcoin-bond-yields-higher-credit-market-rejects-bank-bailout-bullishness

 

 

Note: the S&P once again is challenging its 200 DMA.  Let’s see if it can successfully follow through this time.

 

            The Fed has to fix the Treasuries market.

            https://www.bloomberg.com/opinion/articles/2023-03-20/most-important-bond-market-needs-fixing-before-it-s-too-late?sref=loFkkPMQ

 

            Margin debt down in February.

            https://www.advisorperspectives.com/dshort/updates/2023/03/20/margin-debt-down-2-6-in-february

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

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

 

                        International

 

January EU construction output rose 0.9% versus estimates of down 2.7%; the March economic sentiment index was 10 versus 16.

 

The March German economic sentiment index was 13 versus consensus of 17.1.

 

                        Other

 

            The Banking System

 

              From my favorite optimist.

              http://scottgrannis.blogspot.com/2023/03/more-thoughts-on-banking-crisis.html

 

              Counterpoint.

              https://www.advisorperspectives.com/commentaries/2023/03/20/bank-runs-the-first-sign-the-fed-broke-something

 

              The banking system was an accident waiting to happen.

  https://www.barrons.com/articles/sbv-fed-qe-banking-crisis-22175ec0?mod=past_editions&utm_campaign=What%20I%20Am%20Reading&utm_medium=email&_hsmi=250930998&_hsenc=p2ANqtz-8XaMClq9JRDx6nI3H6Rths5sKHEA6Mmo28JH_LCmQhq59XlZuX8w4Y4l2ZQSR-rUE9VYnN2oYSfU1Bup-fpXAE17uDjw&utm_content=250930998&utm_source=hs_email

 

 

              It is going to be harder to get a loan.

              https://www.wsj.com/articles/smaller-banks-critical-role-in-economy-means-distress-raises-recession-risks-ba31e6a8?mod=economy_lead_story

 

              Too wrong to fail.

              https://www.zerohedge.com/personal-finance/too-wrong-fail

 

              The American taxpayer bears the burden of Fed mismanagement.

  https://www.theepochtimes.com/americans-to-bear-burden-of-monetary-systems-gradual-deterioration-economist-says_5131784.html?utm_source=partner&utm_campaign=ZeroHedge&src_src=partner&src_cmp=ZeroHedge

 

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

           

 

 

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