Stocks Tracking Earnings Higher

(1) Bonds: Six reasons to fold them and one reason to hold them. (2) US bonds’ tether to bunds and JGBs may be fraying. (3) Bond Vigilantes model is most bearish of them all. (4) Latest wage inflation data remain subdued. (5) Industries with highest wage inflation are among most competitive. (6) Phillips curve on life support. (7) Powell says Fed remains on course. (8) Fed is adding an annualized $360 billion to Treasury supply. (9) Fed data show big buyers of Treasuries so far this year have been households, foreigners, and pension funds. (10) US PMIs outpacing the rest of the world’s PMIs. (11) Will bond yield top out at 3.50% or 4.00%? (12) Movie review: “A Star Is Born” (+ +).