June 28 (Tuesday)
Latest Morning Briefing Executive Summary: Right & Wrong Tracks
This year’s first half has been treacherous for most investors; what will the second half bring? Today, we take stock of what’s going right for the economy and financial markets—and may be bullish over the rest of the year—and what could prolong the bearish pain. … Among the bullish: sentiment indicators’ contrarian buy signals, super-low joblessness, strong bank balance sheets, the “CFO Put,” and (counterintuitively) the Fed’s QT. … The main bearish scenario is a familiar fear: Inflation proves so intractable that the Fed tightens to the point of recession, which sets off a credit crunch. And that’s not all that could morph bearish.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on June 27.
Markets
S&P 500 falls as stocks struggle to maintain their comeback from bear market lows | C
SPACs wipe out half of their value as investors lose appetite for risky growth stocks | C
Commodities
Russian Gas Cuts Threaten World’s Largest Chemicals Hub | W
‘Off the charts’ chemical shortages hit U.S. farms | R
Central banks
Central Banks Should Raise Rates Sharply or Risk High-Inflation Era, BIS Warns | W
US
How Much Wil July 4 Barbecue Cost? Beef, Chicken Prices Soar More Than Inflation | B
Big-Ticket Goods Orders, Pending Home Sales Point to Steady Demand | W
Pending home sales post surprise increase in May | C
Hottest US Housing Markets Now Have Bigger Share of Price Cuts | B
Bidding Wars Overheated the Home-Buyer Market, Now They’re Coming for Renters | W
Emerging
Shanghai Has Reopened, but Not Disneyland | W
Russia slides into historic debt default as payment period expires | C
Sanctions Push Russia to First Foreign Default Since Bolshevik Revolution | W
Industries & companies
Airlines: Airlines cancel over 700 U.S. flights as labor crunch, bad weather weigh | R
Consumer Discretionary: Amazon plans second Prime shopping event in Q4 | C
Tech: Action to break up ‘Big Tech’ will mean price hikes | The Hill
Crypto
Crypto fund defaults on $670M loan, and Bitfury CEO says prices aren’t ‘relevant’: CNBC Crypto World
Beyond markets
Bee Hive Wipeout Is Crimping Harvests as Crisis Enters New Stage | B
