June 12 (Monday)
Latest Morning Briefing Executive Summary: Inflation & The Fed
Investors are on the edge of their seats: Will the FOMC raise the federal funds rate (FFR) when it meets this week or pass this time? Key will be how fast inflation is falling, and the Consumer Price Index for May will be released as they deliberate. We say monetary policy is restrictive enough already, as the higher effective FFR implies a tighter environment than the straight FFR suggests. … Also: We recap what consumer inflation measures have been doing for goods and for services since peaking last year. The latter has proven more stubbornly persistent than the former. … And: Dr. Ed reviews “BlackBerry” (+ + +).
(subscribers’ link)
Markets
Stock Market: Can the S&P 500 Keep Going Up? Yes, Here’s Why. | BR
Surging stockmarkets are powered by artificial intelligence | E
Why the new bull market is headed for more Fed stress after a pause | C
Companies, Big Investors Sell Shares at Fastest Rate in Years | W
Japan’s stockmarket rally may disappoint investors | E
Credit
Bonds Are Entering a New Era. How to Play It. | BR
Bonds Are Back. Where Vanguard’s Bond Chief Sees Value Now. | BR
Commodities
How to get rich from commodities | E
The struggle to kill King Coal | E
OPEC+ working against ‘uncertainities and sentiment,’ Saudi energy minister says | R
Saudi Arabia seeks cooperation with China, ‘ignores’ Western worries | R
Pakistan PM says first discounted Russian crude oil cargo arrives in Karachi | R
Central banks
Fed Will Have to Keep Raising Rates, Even if It Pauses in June | BR
US
The Economy Is Dragging Down Biden’s Re-election Hopes. What Might Change That. | BR
Port of Seattle closed due to ILWU labor strife | C
This Summer, Lifeguards Have Better Job Prospects Than Office Interns | W
China
Fueled by Long Credit Binge, China’s Economy Faces Drag From Debt Purge | W
China’s guarding of genetic data is a drag on scientific research | E
China’s new Great Wall | E
Europe
German bosses are depressed | E
India
How India is using digital technology to project power | E
Geopolitics & trade
China has been spying from Cuba for some time, U.S. official says | C
How North Korea’s Hacker Army Stole $3 Billion in Crypto, Funding Nuclear Program | W
Power Shortage Hits Vietnam, a Production Hub for Apple and Samsung | W
OpenAI CEO Calls for Collaboration With China to Counter AI Risks | W
U.S. Tech Giants Are Slowly Cutting Off Hong Kong Internet Users | W
Industries & companies
Airlines: Now Boarding: Airlines are bringing back the jumbo jet (sort of) | C
Consumer: This Company Makes Costco and Amazon’s Store Brands. Its Stock Is a Buy. | BR
Retail: Amazon Prime Day is coming. Here’s how sellers can boost their sales | C
Retail: A recycled idea at Levi’s, Adidas to stop clothing from going to waste | C
Retail: Nike Broke Up With Retailers. Now It’s Trying to Win Them Back. | W
Tech: Apple’s Vision Pro is an incredible machine. Now to find out what it is for | E
Wireless: AT&T, Verizon Stock Dividends: What Amazon Wireless Would Mean | BR
Corporate finance
Glencore Approaches Teck Over Its Coal Business | W
Beyond markets
Generative AI could radically alter the practice of law | E
Billionaire George Soros hands control of empire to son Alex | R
Trump delivers fiery post-indictment speech: ‘They’re coming after you’ | C
Trump indictment is ‘very, very damning,’ his former attorney general says | C
Crypto tokens plummeted on concern Gensler is expanding SEC crackdown | C
