April 12 (Tuesday)

Latest Morning Briefing Executive Summary:  TINAC: There Is No Alternative Country
Why is the stock market defying the gravity of extremely grave situations? “TINA” may hold the answer: “There is no alternative” to stocks. … But now she’s been joined by “TINAC”—“there is no alternative country.” Global investors may be taking refuge in the US stock market as a safe haven in an unsafe world. … Today, we comparison-shop equity markets around the world and conclude that foreign stocks are cheaper but for several good reasons. … And: We look at why the US dollar is strong at a time of soaring commodity prices when usually the reverse is true.
(subscribers’ link)

YRI
Daily Markets Overview
See subscribers’ link below for today’s Morning Briefing.
Replay of Dr. Ed’s webinar on April 11.

Markets
U.S. Stocks Drop as Bond Yields Climb | W
Investors Turn Cautious on Consumer Debt | W
China nudges listed firms, investors to buy stocks to stabilize market | R

Central banks
Fed’s Evans Says Good Possibility of 50 Basis Point Rate Rise in May | W

Global
Opinion | Globalization Is Over. The Global Culture Wars Have Begun. | N

US
March consumer inflation expected to be the hottest since 1981 | C
Everything Costs More, and That’s Disrupting Retirement for Many | W
New York Fed: Public Expectations for March 2023 Inflation Hit 6.6% Record | W
Home Builders Bypassing Individual Home Buyers for Deep-Pocketed Investors | W
With student-loan freeze, Biden subsidizes rich lefties | P

Japan
Japan’s wholesale inflation stays near record on Ukraine war, weak yen | R

China
How China brutalizes its people to try to achieve ‘COVID Zero’ | P
U.S. State Department orders all non-emergency government staff in Shanghai to leave as Covid surges | C
 
Geopolitics & trade
Pentagon monitoring reports of possible Russian chemical weapons attack in Mariupol | C
Ukraine braces for new Russian offensive as Moscow dismisses rape allegations | R
Ukraine’s Zelensky Calls for More Military Aid Ahead of Battles in Eastern Regions | W
China Is Accelerating Its Nuclear Buildup Over Rising Fears of U.S. Conflict | W

Corporate finance
Honda to spend $64 billion on R&D as it revs up electric ambitions | R

Climate
New Study: Arctic Was Much Warmer 6000 Years Ago… 90% Of Glaciers, Ice Caps Smaller Than Present Or Absent! – Watts Up With That?

Beyond markets
Google’s first week back: Marching bands, mayor visits, traffic jams | C