March 01 (Wednesday)

Latest Morning Briefing Executive Summary: On Valuation & Central Banks
Today, we look at valuations for various investment style indexes. Notably, the S&P 400 MidCaps and S&P 600 SmallCaps—a.k.a. SMidCaps—haven’t been this cheap versus the S&P 500 LargeCaps since 2000. Growth and Value indexes underwent major shifts when the MegaCap-8 stocks were redistributed among them in December. Global markets have been outperforming the US MSCI. They’re collectively still cheap relative to the US. But we wouldn’t stray too far from home for long … And: The underlying structural issues keeping inflation aloft will be solved by market forces, not with monetary policy. … Also: The ECB has been tightening, but perhaps not enough yet.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on February 27.

Markets
Stocks Close February With Declines | W

Global
Column: Soft landing for global economy remains a long shot | R

US
Biden says ‘I’m gonna raise some taxes’ in March budget proposal | R
Home-Price Growth Slowed in 2022 | W
Homebuyers Turn to Builders as Existing Homes for Sale Get Rarer | B
U.S. Aims to Chart New Course for Chip Industry | W

China
China’s abrupt reopening sparks student accommodation crisis in Australia | R

India
Adani Isn’t the Only Indian Tycoon in Trouble, Look at Vedanta | B
India leads world in cutting internet access for 5th year in a row, watchdog says | R

Geopolitics & trade
House Committee Lays Out Case for China Threat | W
US House panel on China cites ‘existential struggle’ at first hearing | R
China Supply Chains: Replacing Them Is Hard. Just Look at Vietnam | B
Column: United States targets Russian aluminium and other metals | R

Industries & companies
Autos: GM cutting hundreds of jobs to reduce costs | R
Retail: Target Is Investing $5 Billion to Reboot Its Stores | B

Climate
America Is Trying to Electrify. There Aren’t Enough Electricians. | W
 
Beyond markets
How Did Covid Start? DOE Lab Leak Report Has a Key Caveat | B