May 30 (Tuesday)
Latest Morning Briefing Executive Summary:
Shock Absorbers
Why is economic growth seemingly defying gravity, or at least the gravitational pull of the Fed’s tightening measures over the past year and change? It’s not that the rules of business-cycle physics are defunct. Rather, the pandemic has added new forces to the equation, with distortive effects. Eight unusual forces are acting as shock absorbers to keep the economy from sinking into the widely expected recession. Today, we examine each, including the amount of liquidity in the economy, the uncommonly strong labor market, productivity-enhancing technological advancements ushering in the “Roaring 2020s,” and well-heeled Baby Boomers consuming like there’s no tomorrow.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 22.
Markets
Don’t expect the stock markets to rejoice about the debt ceiling deal | NN
Why Are Markets So Calm? It’s Revenge of the Quant Funds | W
The Dollar Is Still King in Europe, and It’s Swaying Interest Rates | W
Central banks
Major central banks were expected to pause rate hikes soon. Now it’s not so clear cut | C
US
What’s in the debt ceiling deal struck by Biden and McCarthy? | C
Donald Trump is very likely to be the Republican nominee | E
Recession Is Coming, and It Could Be Lengthy | BR
The Olive Oil Crisis Spreads as Prices Soar. What’s to Blame. | BR
More High-School Grads Forgo College in Hot Labor Market | W
Why Americans Are Having Fewer Babies | W
China
China’s Economy Can’t Grow at 10% Forever | BR
China’s cancel culture is nationalist, not woke | E
Japan
Japan’s ageing society is finding creative ways to dispose of its dead | E
Geopolitics & trade
China Rebuffs Pentagon Chief, Blunting Push for Rapprochement | W
Hungary is becoming more important to China | E
Industries & companies
Autos: Electric cars could be crucial for the EU to meet its climate goals | E
Financials: These Bank Alternatives Can Keep Cash Rolling In | W
Media: Disney’s ‘Little Mermaid’ Tops Weekend Box Office | W
Media: The CEO of YouTube Has a Favorite Video and a Plan to Win Over Anyone Watching TV | W
Media: Streaming services remove movies, shows: Here’s why | C
Technology
‘It’s not a bubble yet’: Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I. | C
The AI Boom Runs on Chips, but It Can’t Get Enough | W
Beyond markets
How Bitcoin and Other Crypto Keep Escaping Extinction After Crashes and Bubbles | BR
It’s Not Even ‘Deflation’ In the False Way That Monetarists Define It | FO
