The Daily Shot Brief – July 2nd, 2020

Greetings, Administrative Update As a reminder, the Daily Shot will not be published on Friday, July 3rd. United States: The ISM Manufacturing PMI, a closely watched indicator of US factory activity, topped economists’ forecasts. The headline index saw the biggest monthly increase in June since 1980 as manufacturing returns to growth (PMI > 50). Pandemic-related …

The Daily Shot Brief – June 29th, 2020

Greetings, Administrative Update Please note that the Daily Shot will not be published on Friday, July 3rd. Rates: Flows into inflation-protected bond funds soared as investors hedge against a potential inflation shock. As a result of this demand for inflation product, yields on inflation-linked Treasuries (TIPS) continue to fall. These yields are a measure of …

The Daily Shot Brief – June 26th, 2020

Greetings,   United States: The declines in initial unemployment claims have stalled (the chart below is not seasonally adjusted). Including the Pandemic Unemployment Assistance (PUA) claims, new filings are holding above two million per week.   China: The increase in local government bond issuance, coupled with fiscal and monetary stimulus, could bolster industrial production.   …

The Daily Shot Brief – June 25th, 2020

Greetings,   United States: The Oxford Economics activity tracker shows the US recovery slowing. After a sharp post-reopening rebound, we are entering the slow phase of the recovery.   Eurozone: Italy has been issuing large amounts of bills to cover crisis-related expenses.   Europe: European household saving rates rose sharply this year.   Equities: Earnings …

The Daily Shot Brief – June 19th, 2020

Greetings,   United States: Initial jobless claims declined from last week, but the latest figure was above economists’ estimates. Continuing claims are holding above 18 million. The labor market is facing a long recovery.   Eurozone: The demand for the latest tranche of TLTRO financing was remarkably strong (€1.3 trillion). When your central bank offers you a …