March 13 (Monday)

Latest Morning Briefing Executive Summary: Run For The (Sand) Hill
Tightening monetary cycles often end abruptly when “something breaks” and a financial crisis is triggered. If the Silicon Valley Bank run is that something, it could mean tightening ends sooner and bond yields have peaked. We can’t say for sure that’s the case but can say the debacle should keep the tech sector mired in its rolling recession for longer. While the SVB crisis doesn’t change our economic and stock market outlooks for now, it adds uncertainty until resolved in a way that minimizes systemic shock. … Also: A theory for why labor market demand so persistently exceeds supply points a finger at the Baby Boomers. … Dr. Ed reviews “Till” (+ + +).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on March 6.

Markets
William Blair’s Carlette McMullan Is Sticking With Growth Stocks | BR

Central banks
Goldman analysts no longer expect Fed rate hike in March after SVB failure | R
 
SVB & banks
Companies Whose Deposits in Silicon Valley Bank Were Just Freed | W
How Silicon Valley Turned on Silicon Valley Bank | W
Banks Trade Relief Now for Regulation Later | W
After SVB failure, US acts to shore up banking system confidence | R
Why the SVB-Triggered Selloff Is a Buying Opportunity in Big Bank Stocks | BR
Biden to defend U.S. banking system after SVB, Signature collapse | R
 
Global & commodities
Global Economy Gets Tailwind From Falling Energy Prices | W
Platinum Is the New Precious Metal Darling. Why Palladium Lost Its Shine. | BR

US
What if Joe Biden decided against running for re-election? | E
 
China
Many of China’s top politicians were educated in the West | E

Europe
France is in a stand-off against Emmanuel Macron’s pension reform | E
Britain has endured a decade of early deaths. Why? | E
Germany is letting a domestic squabble pollute Europe’s green ambitions | E

Geopolitics & trade
China’s Xi to Speak to Zelensky, Meet Next Week With Putin | W
Exclusive: UK approves increased submarine-related exports to Taiwan, risking angering China | R

Industries & companies
Tech: With Salesforce Stock Under Pressure, Marc Benioff Fights Back | BR

Corporate finance
Pfizer Agrees to Buy Seagen for $43 Billion | W

Beyond markets
Jubilation as ‘pride of Malaysia’ Yeoh wins first Oscar | R