May 16 (Monday)

Latest Morning Briefing Executive Summary: Waiting for Something To Break
After many years of ultra-easy monetary policy, the realization that it’s going away has frightened investors to a degree unprecedented this early in a tightening cycle. The pre-tightening fear alone burst plenty of speculative bubbles, yet no dreaded credit-crunch/recession scenario has materialized. True, the inflation genie isn’t back in the bottle yet, but we expect it will be in coming months and without crashing the economy. … The Fed’s recently released Financial Stability Report was sanguine as well. … But our soft-landing scenario is a contrary one. So we’re keeping our eyes peeled for signs of both the recession that we don’t expect and the peaking of inflation that we do. … Also, we review “Ozark” (+ + +).
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 9.

Markets
Investors Stay Put, Because They Can’t Think of Better Options | W
Investors could get a reprieve from vicious stock sell-off in week ahead | C
The Stock Market Has Tumbled. The Best Stocks to Buy Now. | BR

Currency & commodities
The Dollar Is Winning in a Messy Global Economy—and That Matters in the Fight Against Inflation | W
Oil giant Aramco reports record first quarter as oil prices soar | C
Three Steel Stocks That Could Soar Even as Production Costs Rise | BR
Soybean Prices Look Set to Decline. That Could Dent Food Costs. | BR

Central banks
The Fed Has Gone From Friend to Foe for Investors. What to Do Now. | BR

US
How Workers Gained Leverage, and Why They Won’t Lose It Soon | BR
Walmart Anticipates a Store Manager Shortage Despite $200,000-a-Year Pay | W
They Signed Contracts for Their Dream Homes Last Year. Now Their Borrowing Costs Are Ballooning. | W
America Needs More Houses | W
CEO Pay Packages Rose to $14.7 Million in 2021, a New High | W
Amazon’s Bezos criticizes Biden admin, says inflation hurts the poor | C
Ex-Goldman CEO says recession possibility is ‘very high risk factor’ | R

Asia
The Indian economy is being rewired. The opportunity is immense | E
Shanghai’s covid-19 lockdown is not even close to over | E

Geopolitics & trade
Battle rages for Ukrainian region of Donbas | R
Nations Aim to Secure Supply Chains by Turning Offshoring Into ‘Friend-Shoring’ | W
Finland will apply for NATO membership, president says | C
NATO expects Turkey not to hold up Finland, Sweden membership | R
Yellen Seeks to Win European Support for a Tax Deal Congress Hasn’t Approved | W
 
Industries & companies
Airlines: U.S. pilot shortage forces airlines to cut flights, scramble for solutions | C
Autos: Ford Unloads Further 7 Million Shares of Electric-Vehicle Startup Rivian | W
Autos: Rivian Recalling 502 Electric Trucks Over Potentially Faulty Air-Bag Sensors | W
Energy: Buy Shell Stock. The Energy Giant Looks Like a Bargain. | BR

Corporate finance
Behind Fake-Account Issue That Elon Musk Cited in Calling Twitter Deal ‘On Hold’ | W
Elon Musk says Twitter legal team told him he violated an NDA | R

Crypto
Panic in the crypto market has Janet Yellen’s attention | NN
How TerraUSD, a Digital Token Designed to be Stable, Fueled a Crypto Crash | BR
 
Beyond markets
Suspect in racist shooting in Buffalo was detained for mental health check last year | R
Baby Formula Shortage Stuns States Including Tennessee, Kansas and Delaware | W