March 16 (Wednesday)
Latest Morning Briefing Executive Summary: Wage-Price-Rent Spiral
Company fundamentals have been scaling dazzling new heights since mid-2021, yet stock market valuations have toppled ignominiously from their 2021 peaks last spring. That disconnect reflects a tug of war between the opposing effects of high inflation and excess M2 liquidity on valuation multiples. … We have two big concerns about higher-for-longer inflation: Rent inflation is getting uglier, and the wage-price spiral is spiraling faster. In fact, we now see potential for a wage-price-rent spiral. … And: Melissa examines why rents have gone through the roof.
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YRI
Daily Markets Overview
See subscribers’ link below for today’s Morning Briefing.
Replay of Dr. Ed’s webinar on March 14.
Markets
Stocks Surge as Oil Prices Slide Below $100 | W
Bond Markets Forecast Long Financial Freeze for Russia | W
China Covid-19 Lockdowns Rattle Oil Markets, Add to Uncertainty | W
Nickel Traders Are Bracing for Wild Ride as Market Reopens | B
Central banks
Fed Wrestles With the Challenge of How Quickly to Raise Interest Rates | W
Sarah Bloom Raskin Withdraws as Biden’s Pick for Top Fed Banking Regulator | W
Global
What Russia’s looming debt default means for global economy | P
US
High gas prices didn’t doom Obama in 2008 and they might not sink Biden in 2022 | Vox
Get ready: Here comes the Biden recession | TheHill
As Stagflation Fear Grows, Food and Gas Prices Are the New Rent | B
Single-family rent sets record, led by homes in Florida and Arizona | C
Ukraine-Russia
Russia Bombards Kyiv as European Leaders Arrive in Ukraine’s Capital | W
Ukraine Invasion: Russia’s Military Is Adapting After Early Failures | B
Russia sanctions threaten to backfire on the buck (asiatimes.com)
What If Russia Defaults On Its Debt? Ukraine War Sanctions Risk $150 Billion | B
How Long Can Russia Withstand the Sanctions? | CFA Institute Enterprising Investor
Russia Softens Iran Demands, Re-Opening Way for Nuclear Deal | W
Putin’s Worsening Problems | New Lines Magazine
Inside Chernobyl, 200 Exhausted Staff Toil Round the Clock at Russian Gunpoint | W
Corporate finance
Intel Plans $36 Billion in European Chip Plant Investments | W
Beyond markets
Bowery’s vertical farming strawberries go on sale in New York | C
Year-Round Daylight-Saving-Time Bill Passes the Senate | W
Pfizer Asks FDA to Authorize Second Covid-19 Booster Dose | W
