April 03 (Monday)
Latest Morning Briefing Executive Summary: Banking Crises, Then & Now
The S&L crisis of 1990 caused a mild, short-lived recession impacting earnings but not triggering a bear market in stocks. Conversely, we had a bear market last year but no recession (yet?). Similarly, though, the commercial real estate market was hit hard during 1990’s banking crisis and stands now in the eye of the SVB storm, since small banks—the most vulnerable—make most CRE loans. … Also: Do you wonder why consumer spending has been so resilient lately? That huge demographic cohort that disrupts the status quo at every life stage is at it again. … And: For stock traders, Joe Feshbach’s take on the market. … Finally: Dr. Ed reviews “Godfather of Harlem” (+ + +).
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on March 27.
Markets
S&P 500’s Resilience in the Banking Crisis Is Largely Thanks to Tech | W
The Stock Market Rallied Into a Banking Slowdown. Be Worried. | BR
March’s Stock Market Came in Like a Lion, Goes Out Like a Bull | BR
Global & credit
World Bank Warns of Lost Decade for Global Economy | W
Bond Funds Aren’t as Safe as You Think. What to Know. | BR
Rising Rates Take Some Shine Off Private Markets | W
Commodities & currencies
Oil: OPEC+ just made the Fed’s job more complicated. Here’s what they did | C
Oil prices surge after OPEC’s surprise cut, analysts warn of $100 per barrel | C
Why U.S. natural gas output keeps rising as prices sink | R
Exclusive: Russia shifts to Dubai benchmark in Indian oil deal – sources | R
Gold prices pare losses on rate hike bets after OPEC+ cut | R
China’s Yuan Is Globalizing. But Only Washington Can Dethrone the Dollar. | BR
Banks
Barney Frank: Signature Bank Didn’t Need a U.S. Takeover. Regulators Disagreed. | BR
For Regional Banks, Does More Debt Mean Fewer Problems? | W
15 Banks With Big Exposure to Commercial Real Estate Are Managing Risks Well | BR
Janet Yellen Blames Everybody Else for the Financial Panic | W
US
Trump indictment pulls DeSantis-leaning Republicans back to MAGA fold | R
Sunbelt Cities Nashville and Austin Are Nation’s Hottest Job Markets | W
Geopolitics & trade
Chinese spy balloon gathered intelligence from sensitive U.S. military sites, despite U.S. efforts to block it | C
Europeans Weigh Confronting Russia at U.N. Over Evan Gershkovich Case | W
China urges Japan not to back U.S. chip export restrictions | C
TikTok Won’t Be the Last Chinese Firm Targeted. Where the Next Fronts Might Be. | BR
How TikTok Could Get Banned | BR
Gen Z Is Angry About a Possible TikTok Ban | BR
Industries & companies
Autos: Tesla Reports Uptick in Vehicle Deliveries After Price Cuts | W
Pharma: Wegovy, Ozempic or Mounjaro? Drugs could remake weight loss industry | C
Real Estate: Will the Housing Market Crash? Expect a Slow Rebound, Our Roundtable Pros Say. | BR
Retail: That Style, Again? How Shopping Got So Boring | W
Theme Parks: How to plan a trip to Disney World: It’s complicated, say some fans | C
Corporate finance
Banking Turmoil Could Put M&A Back on Ice | BR
Technology
Artificial Intelligence Is Teaching Us New, Surprising Things About the Human Mind | W
