The Morning Call---Assessing the risks in the commercial real estate market

 

The Morning Call

 

4/4/23

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/opec-ugly-data-stagflation-threat-sparks-bond-gold-gains-banks-big-tech-buck-dumped

 

            What comes next?

            https://traderfeed.blogspot.com/2023/04/breadth-thrusts-in-stock-market-what.html

 

            A short squeeze?

            https://www.zerohedge.com/markets/jpm-traders-see-risk-marketwide-short-squeeze-amid-stubbornly-dismal-sentiment

 

            Another analyst points to ~S&P 4200 as an upside objective.

            https://www.advisorperspectives.com/commentaries/2023/04/03/bullish-buy-signals-mark-4200-for-relief-rally

 

            Still too many bears.

            https://www.zerohedge.com/the-market-ear/still-too-many-bears

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          February construction spending fell 0.1% versus expectations of being flat.

                          https://www.calculatedriskblog.com/2023/04/construction-spending-decreased-01-in.html

 

                          The March manufacturing PMI was 49.2 versus consensus of 49.3.

                          https://www.advisorperspectives.com/dshort/updates/2023/04/03/s-p-global-us-manufacturing-pmitm-decline-eases-in-march

 

                          The March ISM manufacturing index was 46.3 versus predictions of 47.5.

                          https://www.advisorperspectives.com/dshort/updates/2023/04/03/ism-manufacturing-index-contracts-for-fifth-straight-month

 

                        International

 

The February German trade balance was E+16 billon versus estimates of E+17 billion.

 

February EU PPI came in down 0.5% versus projections of -0.3%.

 

                        Other

 

            The Banking System

 

              Disturbing thoughts from John Mauldin.

              https://www.advisorperspectives.com/commentaries/2023/04/01/disturbing-thoughts

 

              More on the risks in the commercial real estate market.

              https://www.ft.com/content/3f863583-04be-4e1f-b2e5-c0eede5fbe5f

 

              Speaking of which---

              https://www.zerohedge.com/markets/blackstone-limits-breit-withdraws-fifth-straight-month

 

     Bottom line.

 

            The active management delusion.

            https://blogs.cfainstitute.org/investor/2023/03/31/the-active-management-delusion-respect-the-wisdom-of-the-crowd/

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

            Improving your sleep.

            https://nypost.com/2023/04/01/im-a-sleep-expert-eat-this-fruit-to-snooze-better-and-longer/

 

            Brain food.

https://www.nationalgeographic.com/premium/article/what-to-feed-kids-to-help-their-gray-matter-grow?rid=7912D7310BBCEE9B958D4BEDCFEC5AE5&cmpid=org%3Dngp%3A%3Amc%3Dcrm-email%3A%3Asrc%3Dngp%3A%3Acmp%3Deditorial%3A%3Aadd%3DDaily_NL_Monday_Science_20230403&loggedin=true&rnd=1680545544226

 

 

            Your brain could be controlling how sick you are,

            https://www.scientificamerican.com/article/your-brain-could-be-controlling-how-sick-you-get-and-how-you-recover/

 

            Synthetic fuels---an environmental game changer.

            https://www.adamsmith.org/blog/synthetic-fuels-an-environmental-game-changer

           

            How baseball’s new rules changed the game.

            https://www.nytimes.com/2023/03/30/upshot/baseball-opening-pitch-clock.html

 

Quote of the day.

https://cafehayek.com/2023/04/quotation-of-the-day-4225.html

 

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