1. Yield Curve Watch…Yield Curve Inversion is the Most Respected Indicator of Recession
Curve Flattening Toward Inversion
ByNikos Chrysoloras, Jess Menton, and Thyagaraju Adinarayan https://www.bloomberg.com/
2. Commodity ETF…..COMT -15% Correction
3. In 2 Year Period…Gasoline Futures Hit All-Time Low and All-Time High
@Charlie Bilello There Is No Impossible in Markets
Two years ago the entire world was shutting down and Gasoline futures hit an all-time low.
Last week, they spiked to an all-time high, surpassing the previous high from 2008. If someone told you this would happen two years ago, you would have said that was impossible. But as we have learned time an again: there is no impossible in markets.
With gasoline futures hitting new highs, it wasn’t long before prices at pump would follow. By the end of the week, the average price of gasoline in the US had hit $4.33, surging past the prior high of $4.11 from 2008.
4. Canada by far the Leading Supplier of U.S. Oil
From Dave Lutz at Jones Trading
We also have IEA, OPEC Monthly Market Reports and OpEx for April Crude this week
5. Euro Stock Sales Much Worse than Covid Crash
European Equity Exodus: European equities (understandably given direct geopolitical risk, not to mention indirect/direct economic + financial spillover risk) have been *heavily* sold… much much worse than during the pandemic panic.
Source: @MikeZaccardi
6. Chinese Tech Stocks Full Dot-Com Crash
Jim Bianco Research
Chinese Small Cap ETF Hitting Covid Levels.
7. Corporate Bond Funds Seeing Double Digit Losses
Investment Grade Bond ETF….LQD -10.5% from highs
FPE Preferred ETF -9%
8. Coinbase Breaks to New Lows …Down Double Bitcoin ETF
Coinbase -35% YTD vs. BITO (Bitcoin ETF) -15%
9. Rental Nation….Affordability of U.S. Homes Hits New Lows
Affordability of New Homes in U.S. Resumes Decline in 2022
Source: Political Calculations
From Barry Ritholtz Blog https://ritholtz.com/
10. What is the West?
| GEOPOLITICS -Morningbrew What is ‘The West’? |
| When reading about the war in Ukraine, you’ve probably come across the term “the West” to describe the coalition of governments opposing Putin’s invasion. But what does the West actually mean?
For an answer, let’s get an assist from the brilliant Russia scholar Stephen Kotkin. In an interview with the New Yorker published this weekend, Kotkin gave his definition of the West, and it’s certainly better than anything we could come up with: “The West is a series of institutions and values. The West is not a geographical place. Russia is European, but not Western. Japan is Western, but not European. ‘Western’ means rule of law, democracy, private property, open markets, respect for the individual, diversity, pluralism of opinion, and all the other freedoms that we enjoy, which we sometimes take for granted. We sometimes forget where they came from. But that’s what the West is. And that West, which we expanded in the nineties, in my view properly, through the expansion of the European Union and NATO, is revived now, and it has stood up to Vladimir Putin in a way that neither he nor Xi Jinping expected.” The entire interview is packed with insights on the current situation. |
America the generous: U.S. leads globe in giving
- Erica Pandey, author of Axios What’s Next
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From Axios Finish Line, here’s a stat to savor: America was the world’s most generous country this past decade, according to the Charities Aid Foundation’s World Giving Index, which surveyed 1.3 million people in 125 countries.
- Not only do we give money, but 72% of Americans help strangers and 42% of us volunteer.
- We grew more generous during the pandemic: 2020 and 2021 donations each topped 2019.
Why it matters: This cuts across religion, region and age, with nearly 60% of Americans giving money last year. Average donation: $574.
Trend to watch: There’s a big surge in people setting up Facebook and TikTok fundraisers in lieu of birthday presents. You might roll your eyes at the exhibitionist dimension of public giving … but it beats the alternative.
- Facebook says birthday fundraisers bring in hundreds of millions of dollars a year. Top beneficiaries include St. Jude Children’s Research Hospital, the Alzheimer’s Association, the American Cancer Society and No Kid Hungry.
- Try it.
An even newer, real-time wave to surf: Booking an Airbnb stay in Ukraine — not to visit but as a way to send money to a family in need.
- Last week, 61,000 nights were booked at Airbnbs in Kyiv and other cities — 34,000 of them by Americans.
- Try it.
Tip to go: Be careful when giving. These four sites, all recommended by the Federal Trade Commission, let you verify whether a charity is reputable:
And remember, if you want a deduction, you can make sure the charity qualifies by hitting the IRS Tax Exempt Organization Search.
Editor’s note: This story originally published on March 8.
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