Greetings, The United States: After a relatively strong holiday shopping season, retail sales weakened sharply in January. Below is Morgan Stanley’s retail sales tracker. Emerging Markets: Investors pulled quite a bit of capital out of South Africa last year. The Eurozone: Has the Eurozone’s unemployment rate bottomed? Equities: The Fear & Greed index is rapidly …
Continue reading “The Daily Shot Brief – February 7th, 2019”
Greetings, The United States: US farmers’ sentiment improved substantially in January amid hopes for a quick resolution in the trade war with China. China: Will we see an official rate cut from the PBoC? The Eurozone: The first-quarter euro-area GDP isn’t looking too good. Equities: After months of consecutive losses, long/short equity …
Continue reading “The Daily Shot Brief – February 6th, 2019”
Greetings, The United States: US manufacturing growth continues to outperform China and the Eurozone. Is this divergence sustainable? China: Economic activity indicators point to deterioration that is not fully visible in the official figures. • Goldman’s indicator: • Barclays’ indicator: The Eurozone: Robust wage growth should boost the services CPI. Equities: Here is the ratio …
Continue reading “The Daily Shot Brief – February 5th, 2019”
Greetings, The United States: Small business sentiment has deteriorated. China: Below is the breakdown of fiscal revenues and expenditures. The Eurozone: The average retail deposit rate ticked higher for the first time in seven years. Equities: Sector funds saw substantial outflows over the past three months. Credit: This chart shows the shift …
Continue reading “The Daily Shot Brief – February 4th, 2019”
Greetings, The United States: The ECRI leading index of economic indicators appears to have stabilized as well. China: China is expected to keep growing its renewables capacity. The Eurozone: Italy’s underperformance has worsened. Equities: The 2019 earnings estimates for the S&P 500 keep moving lower. Credit: Overall, interest coverage ratios are …
Continue reading “The Daily Shot Brief – February 1st, 2019”
