May 31, 2023
(5/31/23) The Debt Ceiling bill advances to the House, which the CBO deems will cut spending $1.3-B over 10-years (the CBO is never correct). Markets need to take a break; pullback to 50-DMA likely. Sector rotations coming; time to take profits. Corporate earnings are showing improvement, but where do earnings come from? Sales. Why is the economy doing better than expected; what happens when student loan payments return? Fed futures expecting rates up to 5.3%; bond traders disagree. The Debt Ceiling Bill isn't a debt deal: will NOT cut spending. Current debt service requires more revenue than is being received. The impolitic reality of spending cuts: McCarthy only dealing with 15% of budget. Higher debt means slower economic growth. 2% growth required for "escape velocity."
SEG-1: Markets Need to Take a Break; Sector Rotation Coming
SEG-2: Why is the Economy More Buoyant than Expected?
SEG-3: Why Wall St. Analysts are More Bullish (and bond traders are
not)
SEG-4: Why the Debt Ceiling Bill Won't Really Matter
Hosted by RIA Advisors Chief Investment Strategist Lance Roberts,
CIO
Produced by Brent Clanton, Executive Producer
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Watch today's show on our YouTube channel:
https://www.youtube.com/watch?v=0KaDnzCk_Hw&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1
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The latest installment of our new feature, Before the Bell | "The
NASDAQ Gap is Unsustainable" is here:
https://www.youtube.com/watch?v=TPcVQAwvP8A&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1
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Our previous show is here: "Markets Continue to Defy the Bears"
https://www.youtube.com/watch?v=io9y3reKWDM&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe
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Register for our next Candid Coffee: "Breaking Your Money Malaise
this Summer:"
https://us06web.zoom.us/webinar/register/1116747842950/WN_ht5MHKFTSX2kRo0__-DtLw
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Articles Mentioned in Today's Show:
"Technical Review Of The Market: Bulls In Control"
https://realinvestmentadvice.com/technical-review-of-the-market-bulls-in-control/
"CBDC- Navigating Pros and Cons to Ease Apprehensions"
https://realinvestmentadvice.com/cbdc-navigating-pros-and-cons-to-ease-apprehensions
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