The Morning Call
6/14/23
The
Market
Technical
Tuesday in the
charts.
Bullish
sentiment rises.
https://www.zerohedge.com/markets/bullish-sentiment-rises-fomo-kicks
The
NASDAQ versus the 10-year Treasury.
https://www.zerohedge.com/the-market-ear/last-time-10-year-closed-here-nasdaq-was
Fundamental
Headlines
The
Economy
US
Weekly
mortgage applications were up 7.2% while purchase applications were up 7.6%.
June
PPI was -0.4% versus consensus of -0.1%; core PPI was +0.2%, in line.
https://www.zerohedge.com/personal-finance/ppi-plunges-more-expected-lowest-dec-2020
International
April EU
industrial production rose 1.0% versus projections of +0.8%.
April UK GDP growth
was +0.2%; in line; April industrial production was -0.3% versus -0.1%; the
April trade balance was L-1.51 billion versus L-2.6 billion.
May German PPI was
-1.1% versus estimates of +0.2%.
Other
The
Fed
China’s rate cut may be just the beginning.
https://asiatimes.com/2023/06/chinas-surprise-rate-cut-may-be-just-the-beginning/
Inflation
May CPI shows that the Fed has made progress,
but it still has more to do.
Recession
This indicator places odds of recession over
80%.
https://politicalcalculations.blogspot.com/2023/06/us-recession-probability-on-track-to.html
Eurozone revised to recession.
The return of El Nino threatens a new level of
economic destruction.
Bottom line.
Corporate profits
look at bit shaky.
https://www.ft.com/content/46f4c713-812e-4b0c-961b-ffbe54b6121e
News on Stocks in Our Portfolios
What
I am reading today
Quote of the day.
https://cafehayek.com/2023/06/quotation-of-the-day-4295.html
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