May 23 (Monday)
Latest Morning Briefing Executive Summary: Bear Spray
Today, we zero in on stock market bears—why they’ve been wrong for 13 years (quantitative easing), why they’re right currently (quantitative tightening), and why we believe their outlook is too pessimistic. … Primarily, we don’t expect an imminent recession because conditions aren’t ripe for a credit crunch. Additionally, the recent tech stock weakness is no Tech Wreck 2.0; inflation, looking peakish already, won’t prove intractable; and wage pressures are stoking an economy-boosting productivity boom. … We stand behind our “Roaring 2020s” scenario following a brief interlude in the 1970s. … We’ll be taking bear spray to Yellowstone. … Finally, Dr Ed reviews “Downton Abbey.”
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 16.
Markets
Stock Market Bottom Remains Elusive Despite Deepening Decline | W
Deglobalization Would Be Bad for Equities. But It’s Not Here Yet. | BR
An Options Strategy Tailor-Made for a Tough Market | BR
The Debt Time Bomb Facing Closed-End Funds | BR
Global
The coming food catastrophe | May 21st 2022 | E
Central banks
Higher Rates Raise Risk of Future Fed Losses | W
US
Rising Risk of Recession Creates New Headache for Biden | W
Inflation is rising, but fans are paying for NBA, NFL, other sports tickets | C
Small Businesses Lose Confidence in U.S. Economy | W
In Battle for Workers, Companies Build Houses | W
Georgia Governor Race Is a Test for Trump. It Isn’t Going Well. | W
China
China’s Markets Are Tested by Foreign Outflows and a Falling Currency | W
Foreign investors are fleeing China | E
Is China “uninvestible”? | E
China Spends Far More Than Others to Help Favored Industries, Report Finds | W
Industries & companies
Pharma: Drugmakers propose swift pandemic response benefiting poorer countries | R
Geopolitics & trade I
Ukraine rejects concessions as Russians attack in east and south | R
Poland’s President Addresses Ukraine’s Parliament, Calls for Removal of All Russian Troops | W
Pentagon Weighs Deploying Special Forces to Guard Kyiv Embassy | W
The Putin Show | E
Geopolitics & trade II
Biden says ‘hello’ to North Korea’s Kim amid tensions over weapons tests | R
Biden Says U.S. Is Prepared if North Korea Conducts Missile Test | W
Why Turkey is blocking bids by Sweden and Finland to join NATO | E
Israeli Prime Minister Naftali Bennett Avoids Government Collapse | W
Corporate finance
Elon Musk’s SpaceX looks to raise $1.7 billion in new funding | C
Beyond markets
Explainer: Monkeypox – How concerned should we be? | R
Another baby formula shipment from Europe to arrive in the U.S. on Wednesday | C
