Greetings, The United States: US multinationals have been repatriating cash from Ireland. Asia-Pacific: New Zealand’s bond yields are still climbing. Eurozone: Real rate differentials between the Eurozone and the US have been a drag on the euro. Equities: Bank shares were also lagging amid concerns that Democrats will increase scrutiny on the sector. …
Continue reading “The Daily Shot Brief – November 8th, 2018”
Greetings, The United States: The US agricultural sentiment index (Ag Economy Barometer) improved in October on hopes that the NAFTA 2.0 deal will ease trade tensions. China:Goldman’s money-supply indicator for China has diverged from the nation’s credit growth. Eurozone: Economists expect rising wages to nudge the Eurozone’s inflation rate higher. Equities: …
Continue reading “The Daily Shot Brief – November 7th, 2018”
Greetings, The United States: This chart shows the difference between CEOs’ future expectations and their assessment of the present situation. The second chart has the same measure for the consumer. China: The Caixin/Markit Composite PMI (manufacturing + services) is approaching 50 (business activity growth is stalling). Europe: Finally, this chart shows government debt …
Continue reading “The Daily Shot Brief – November 6th, 2018”
Greetings, The United States: This chart shows US household formation over time (renters vs. homeowners). China: This chart shows the RMB (yuan) usage in foreign payments. The Eurozone: Switzerland’s PMI is declining quickly (yesterday we saw sagging economic confidence – see chart). Equities: Small banks have boosted their borrowing in recent months …
Continue reading “The Daily Shot Brief – November 2nd, 2018”
Greetings, The United States: Americans should expect a bump in tax refunds next year (see Morgan Stanley’s comments below). China: This chart shows how Beijing has been “guiding” the housing market. Do the current levels suggest that housing policy tightening is coming? The Eurozone: Is business investment about to slow? Equities: …
Continue reading “The Daily Shot Brief – November 1st, 2018”
