June 27 (Monday)

Latest Morning Briefing Executive Summary: Green Bad Deal
The best laid plans of climate activists have gone majorly awry: Soaring fossil fuel prices haven’t increased demand for and supply of “clean” energy sources, as they’d expected, while demand for fossil fuels exceeds supplies. And activists’ pressure on European governments to suppress production of fossil fuels has really backfired, creating an unholy dependence on Russian oil with dangerous geopolitical ramifications. As a result, fossil fuel sources are making a remarkable comeback. … Also: US analysts still haven’t gotten the recession memo, blithely raising estimates even though investors and managements alike are girding for the worst. Even analysts overseas have on rose-colored glasses, particularly in Europe where the risk of a recession is rising as energy shortages worsen.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 21.

Markets
Stocks gain sharply for day and week, while copper falls further | R
What Do You Call the Market’s Cheapest Stocks? Bargains. | BR
Value Investors Bet Recent Market Leadership Is Just the Start | W
How an Income Fund Makes Stocks Safer With High-Yield Bonds | BR

Central banks
Central Banks Should Raise Rates Sharply or Risk High-Inflation Era, BIS Warns | W
How fighting inflation could imperil the euro zone | E
The Bank of Japan v the markets | E

Energy
Europe Turns to an Unlikely Source to Replace Russian Energy: Ukraine | W

US
Consumer Sentiment at Record Low Is Another Ominous Sign for Economy | W

Europe
Briefly united by Ukraine, Europe faces divisions on the home front | E
Op-ed: The EU’s rewiring due to the war in Ukraine is game-changing, if it doesn’t short-circuit before the job is done | C

China
China’s crackdown on the fun industry continues | E

Geopolitics & trade
G-7 nations to announce import ban on Russian gold as Moscow sanctions widen | C
British PM Boris Johnson warns Russian takeover of Ukraine would be ‘absolutely catastrophic’ for the world | C

Industries & companies
Airlines: United Airlines Stock Has Slumped. Director Edward Shapiro Bought Up Shares. | BR
Autos: Carvana Sought to Disrupt Auto Sales. It Delivered Undriveable Cars. | BR
Autos: Tesla, Ford and GM Raise EV Prices as Costs, Demand Grow | W
Consumer Discretionary: Amazon’s Prime Day Isn’t Quite the Blockbuster It Once Was | W
Pharma: Pfizer’s Omicron-Targeting Covid-19 Vaccines Generate Stronger Immune Response | W
Retail: Buy Starbucks Stock. The Coffee Giant’s Worst Problems Are Behind It. | BR
Tech: Recruiters say the tech job market is still red-hot, despite isolated layoffs and cautious words from execs | C

Climate & Sustainability
Electrifying everything does not solve the climate crisis, but it is a great start | E

Beyond markets
World Health Organization says monkeypox is not a global health emergency right now | C