March 21 (Monday)
Latest Morning Briefing Executive Summary: A Very Brief History of The Rise & Fall of Modern Monetary Theory
Now that the Fed is tightening, US monetary policy is no longer bullish for stocks; the “Fed Put” is dead. Replacing it: the “CFO Put,” i.e., the market-buoying activities of corporate CFOs. But the tug-of-war between bearish and bullish forces may not be won decisively by either side in coming months; we see a volatile sideways-trading S&P 500. … Yield-curve inversion fears are misplaced. Inversion doesn’t cause a financial crisis/credit crunch/recession scenario but predicts one. And more convincing predictors are flashing no-recession signals—including the Fed’s lack of inflation-fighting gusto. … Also: Policymakers implemented Modern Monetary Theory during the pandemic, revealing the folly of the theory.
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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
Global equities rise, gold falls after Russia avoids default | R
A nickel-trading fiasco raises three big questions | E
Uranium Prices Spike as War Shifts Thinking on Nuclear Power | BR
Gas Prices Upend Small Business—‘It’s Keeping Me Awake’ | W
China’s Pledge to Support Its Market Is a First Step. Here’s What’s Needed for a Durable Recovery. | BR
Yen kicks off another week under pressure, with central bank policy in focus | R
Supply chains
Manufacturers With Ties to Russia Struggle to Unwind | W
War in Ukraine Is Already Taking Its Toll on Global Food Supplies | W
Central banks
Fed’s Benign GDP, Inflation Predictions Ignore Risk of a Recession | BR
US
Food Prices Keep Going Up. The Impact May Be Felt Far Beyond the Supermarket. | BR
Deere, Hershey and More Stocks to Buy to Combat Food Inflation | BR
Rent.com Rent Report: March 2022 | Rent.com
China
China Says Housing Prices Are Stable, but Developers See Significant Declines | W
Europe
Europe’s Real Estate Could Offer a Buying Opportunity. These Two Stocks Have an Edge. | BR
Geopolitics & trade I
Ukraine refuses to surrender Mariupol as Russia warns of humanitarian ‘catastrophe’ | R
Russia’s Assault on Ukraine Uproots 10 Million People | W
Russia, Failing to Achieve Early Victory in Ukraine, Is Seen Shifting to ‘Plan B’ | W
Pentagon’s Work With Ukraine’s Biological Facilities Becomes Flashpoint in Russia’s Information War | W
Ukraine’s World-Class Drug-Molecule Industry Imperiled by Russia Invasion | W
Geopolitics & trade II
The friendship between China and Russia has boundaries | E
The war in Ukraine will determine how China sees the world | E
Confronting Russia shows the tension between free trade and freedom | E
Explainer: How Russia could use bankruptcy law to punish foreign companies | R
Elon Musk’s internet system is allowing Ukrainian drones to pound Putin’s helpless tanks | ampproject.org
Technology
Big food automation is making its way to Main Street’s menu | C
Virus
Health experts predict uptick in U.S. Covid cases due to new BA.2 variant | C
Beyond markets
Elon Musk’s Business Ties to China Create Unease in Washington | W
