March 22 (Tuesday)

Latest Morning Briefing Executive Summary: More Inflationary Developments
No matter how Putin’s War is resolved, the global world order will continue to face new challenges by the autocrats governing China, Iran, North Korea, and Russia. These Axis of Evil countries won’t stop trying to upend the post-WWII order established and implemented by the US. We look at the ramifications of that reality for globalization, inflation, and the investment outlook. … Also: New kinks in the supply chain mean that supply disruptions won’t be abating anytime soon, which will only increase inflationary pressures. … And: Powell’s speech yesterday confirmed his new, more hawkish stance. But an important yield-curve spread may be on the verge of inverting.
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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 21.

Markets
Stocks End Lower After Powell Interest-Rate Comments | W
Wall Street worries again over Ukraine, inflation | R
S&P Global to withdraw all outstanding ratings on Russian entities | R
China Evergrande Halts Trading in Its Stocks | W

Commodities
Cash Crunch Drives Wild Moves in Commodities | W
Shale Companies Drilling More, but Oil Output Growing Little | W
Oil, food industry executives invited to White House -sources | R
Oil is likely to remain volatile and expensive as world deals with supply shortages | C
Bonds Suffer One of Worst Days in a Decade as Fed Spurs Rethink | B

Global
Governments Cause Inflation, Not Banks Making Loans | FO

Central banks
Central Banks Grapple With Dual Threat of Slowing Growth, Rising Inflation | W
Fed will raise rates more aggressively if needed, Powell says | R
Powell Says Fed Will Consider More-Aggressive Interest-Rate Increases to Reduce Inflation | W
Fed’s Jerome Powell Says Look at Short-Term Yield Curve for Recession Risk | B

US
How to Fight Inflation in Wartime | N
Older Americans, Flush With Housing and Stock Portfolio Wealth, Poised to Revive Spending This Year | W

Europe
EU Support Grows for Russia Oil Ban Over Ukraine War | W

China
China Stockpiles Record Cash In a Sign of Slow Fiscal Stimulus | B
China’s Big Tech Firms Are Axing Thousands of Workers | W
 
Industries & companies
Autos: Ford F-150 Lightning’s 320-mile range beats available Rivian electric pickups, but lags GMC | C
Energy: 41 Inconvenient Truths on the “New Energy Economy” | ampproject.org
Tech: What is web3? It’s Silicon Valley’s latest identity crisis | NBC

Geopolitics & trade
Russia says Biden’s ‘war criminal’ claim has put relations ‘on the verge of rupture’ | C
Ukraine Is Winning | The Atlantic
Ukraine rejects ultimatums as conflict intensifies | R
Vladimir Putin latest: Russian troops cut off as Belarusians sabotage railway supply lines
Russia Relies Increasingly on Missiles, Artillery to Pressure Ukraine | W
Ukraine War Complicates Biden Administration’s Military Strategy on China and Russia | W

Cybersecurity
Russia is exploring options for cyberattacks, and companies must be ready, says Biden | C
 
Corporate finance
Berkshire Hathaway to Buy Insurer Alleghany for $11.6 Billion | W

Virus
As Offices Ease Covid Safety Measures, Workers Worry | N