The Morning Call---Musk's plans for DOGE

 

The Morning Call

 

1/14/25

 

 

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/market-recaps/risk-continues-bank-deposits-plunge-money-market-inflows-surge-negative-gamma-wrecks

 

            To bounce or not to bounce.

            https://www.zerohedge.com/the-market-ear/bounce-or-not-bounce-0

 

            Disturbance in the bond market.

            https://www.zerohedge.com/the-market-ear/something-odd-happening-bond-markets-should-we-worry-0

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The December small business optimism index came in at 105.1 versus estimates of 100.8.

 

December PPI was up 0.2% versus projections of +0.3%; core PPI was flat versus +0.3%.

                          https://www.zerohedge.com/personal-finance/small-business-confidence-soars-6-year-high-surge-energy-prices-sends-ppi-higher

 

 

                        International

 

                        Other

 

The problem with the narrative that the US economy is strong and the rest of the global economy is weak.

https://www.apolloacademy.com/the-problem-with-the-current-sp-500-narrative/

 

                          The case for ‘muddling through.’

                          https://www.tker.co/p/hot-economic-charts-that-cooled

 

                          Housing prices in major US metro cities.

  https://wolfstreet.com/2025/01/12/the-most-splendid-housing-bubbles-in-america-dec-2024-in-21-of-the-33-metros-prices-have-now-dropped-below-2022-peaks/

 

                                                   RecessionAlert weekly economic index.

                          https://www.advisorperspectives.com/dshort/updates/2025/01/13/recession-weekly-leading-economic-index

 

                          The global bond tantrum.

  https://www.bloomberg.com/news/features/2025-01-12/treasury-gilt-bond-tantrum-is-wrenching-and-worrisome-start-to-year?srnd=homepage-americas

 

 

            Fiscal Policy

 

              Musk’s plans for DOGE.

              https://www.nytimes.com/2025/01/12/us/politics/elon-musk-doge-government-trump.html

 

              House republicans weighing $5.7 trillion in proposed spending cuts. (yah, right)

              https://www.zerohedge.com/political/house-republicans-weigh-sweeping-57-trillion-spending-cuts-fund-trumps-domestic-agenda

 

            Tariffs

 

              Tariffs trump modest jobs growth.

              https://scottgrannis.blogspot.com/2025/01/tariff-fears-trump-modest-jobs-growth.html

 

     Investing

 

            Invest like you are wrong.

https://www.riskhedge.com/outplacement/invest-like-youre-wrong-always/rcm?utm_campaign=RH-144&utm_content=RH144OP729&utm_medium=ED&utm_source=rcm

 

            After a great run, be ready for something different.

            https://www.nytimes.com/2025/01/10/business/stocks-bonds-investing-trump.html

           

            More on valuations.

            Valuation & Beauty

 

            Goldman’s chief strategist discusses the ‘term premium.’

            https://www.zerohedge.com/markets/where-here-goldmans-chief-strategy-officer-explains-surge-term-premium

 

            A gold friendly world.

            https://www.zerohedge.com/markets/its-still-very-gold-friendly-world

 

    News on Stocks in Our Portfolios

 

What I am reading today

 

           

 

 

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