The Daily Shot Brief – December 4th, 2020

Greetings,   United States: Will the government extend these emergency programs? The new bipartisan bill contemplates adding a few months. Here is a comparison to the GOP’s bill introduced a few months back.   United Kingdom: The probability of the BoE taking rates into negative territory has diminished.   Energy: Brent is testing $50/bbl.   …

The Daily Shot Brief – December 3rd, 2020

Greetings,   United States: The Fed’s Beige Book report appears to be somewhat more upbeat. Here is the usage of the words “strong” and “weak.”   Eurozone: The euro continues to climb, exacerbating disinflationary pressures. This trend is bound to make the ECB nervous.   China: The nation’s service sector activity accelerated further last month. …

The Daily Shot Brief – December 2nd, 2020

Greetings,   United States: Survey data, such as the ISM index above, point to improvements in business investment.   China: Increased defaults will lead to tighter liquidity for non-bank financial institutions, according to TS Lombard.   Emerging Markets: Mexico’s private credit continues to worsen.   Commodities: Miners are adding new projects as iron ore prices rise. …

The Daily Shot Brief – November 30th, 2020

Greetings,   United States: Initial jobless claims rose again. Many Americans are about to lose their emergency unemployment benefits, widening the “K-shaped” recovery gap.   Eurozone: The broad money supply (M3) growth continues to climb. Here are the year-over-year changes in business and consumer loans. The acceleration in M3 has been driven by the ECB, …

The Daily Shot Brief – November 24th, 2020

Greetings,   Administrative Update Please note that The Daily Shot will not be published on Thursday, Nov. 26th and Friday, Nov. 27th.   Equities: Stock futures are higher as Biden’s formal transition begins. Investors also breathed a sigh of relief on Yellen’s nomination for the Treasury Secretary (as opposed to Elizabeth Warren, for example).   …

The Daily Shot Brief – November 20th, 2020

Greetings,   United States: The US Treasury is pulling the plug on some of the emergency programs it put in place with the Fed (red arrows below).   China: Investors have been selling high-rated state-owned-enterprise (SOE) bonds in provinces where local governments have poor reputations, according to Gavekal.   Cryptocurrency: Bitcoin ownership is becoming more …

The Daily Shot Brief – November 19th, 2020

Greetings,   United States: Many households are concerned about not being able to pay the next month’s rent.   United Kingdom: Regret?   China: Chinese IPOs in the US exceeded $11 billion this year.   Energy: US gasoline inventories are back above the 5-year average. And gasoline demand remains relatively soft.   Equities: November 9th …