[VIDEO] Jim Cramer: Inflation is everywhere! + Supply Chain Bottlenecks + Blowout Jobs
By Blanke Schein Wealth Management on March 30, 2021
The 10-year Treasury yield topped 1.77% early Tuesday, taking out another January 2020 high, as Covid vaccine rollouts and planned infrastructure spending boosted hopes of a broad U.S. economic recovery. However, the move also stoked inflation fears and put growth stocks under pressure because higher rates erode the value of future profits and squeeze market valuations. (CNBC)
From housebuilders to toymakers, businesses are sounding the inflation alarm – A growing list of businesses are warning that supply-chain bottlenecks, increasing raw material costs and higher labour expenses are beginning to bite. Manufacturing behemoth 3M Co. has flagged rising air and freight costs to ship its goods, while Walmart Inc. has warned on the congestion in U.S. ports. Mobile home manufacturer Legacy Homes and Williams-Sonoma, the purveyor of Breville espresso machines and Wüsthof knife sets, have seen an uptick in wage costs. The 10YY is flying to 2020 highs this AM, weighing on Tech Shares.
Barbie Doll-maker Mattel Inc. has warned on the rise in plastics prices, which were exacerbated by the winter storm in Texas that took petrochemicals plants offline. Treasury Breakevens (White) continue to lead the 10Y higher. The saving Grace? Both seemed to be following Oil earlier this year, and WTI is breaking down.
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