The Morning Call---QEInfinityForever
Value, Growth At A Reasonable Price, Dividend Investing
Seeking Alpha Analyst Since 2010
The Morning Call
2/24/21
The Market
Technical
Tuesday in the charts.
Momo Dumps, Powell Pumps, Crypto Slumps
10 year Treasury yields spike above 1.4%.
Stocks Slammed As Treasury Yields Explode Higher
Fundamental
Headlines
The Economy
US
Weekly mortgage applications fell 11.4% while purchase applications were down 11.1% (undoubtedly weather related)
The February Richmond Fed manufacturing index came in at 14, the same reading as in January.
Richmond Fed Manufacturing: Continued Improvement in February
February consumer confidence was reported at 91.3 versus expectations of 90.0.
Consumer Confidence Up in February
International
Q4 German GDP grew 0.3% versus estimates of +0.1%.
Other
Global double dip recession.
Political Calculations: The Global Double Dip Coronavirus Recession Deepens
More for the optimists.
What the Bond Market Is Telling Us About the Biden Economy
The Fed
The Fed and Yellen.
The Babble-On 7: The Fed And Yellen
Powell testified before the senate yesterday (the house today)-------and the bottom line (drum roll, please) is that QEInfinity lives on. Free money, free money, great God Almighty, free money. Prepared remarks:
Watch Live: Fed Chair Powell Tell Congress "Whatever" They Want To Hear
Fiscal Policy
How much pork is in the $1.9 trillion stimulus bill?
Here's How Much Wasteful Spending Is In The New $1.9 Trillion Stimulus Bill
Inflation
Reflation today, inflation tomorrow?
Reflation Today, Inflation Tomorrow?
Speculation
Ray Dalio on how to spot a bubble.
Dalio: How to Spot a Bubble - The Big Picture
Blowing up the ‘everything’ bubble.
Technically Speaking: Blowing Up The "Everything Bubble" - RIA (realinvestmentadvice.com)
What to do with all that cash.
US Banks: what to do with all that cash
If this isn’t a blow off top……….
If This Isn't A Blow-Off Top...
Bottom line. According to Mr. Powell the monetary firehose will continue to spew forth billions and billions. Short term, that will provide support for higher stock prices. That said, the sounds of alarm over valuations are getting louder. As I have said repeatedly, I do not know how or when this condition will be corrected. But something that can’t go on forever, won’t. Enjoy the ride but I do not think it wise to get sucked into chasing stocks ever higher---and taking some profits is not a bad idea.
The riskiest stock market in over a century.
The Riskiest Stock Market in Over a Century - American Consequences
Early innings of a move to commodities.
"The Dam Is Going To Break": We Are In The Early Innings Of A Colossal Migration Into Commodities
News on Stocks in Our Portfolios
What I am reading today
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