Greetings, Equities: The stock market is vulnerable to an increase in real rates as the S&P 500 – TIPS yield correlation moves further into negative territory. Credit: Loan loss provisions among large US banks are below pre-crisis levels but are still high as a percent of total loans. This means banks have extra …
The Daily Shot Brief – March 2nd, 2021
Greetings, United States: The ISM Manufacturing PMI report topped market forecasts, showing US factory activity accelerating in February. The report points to further gains in the nation’s industrial production. Eurozone: As deposits swell, German lenders are starting to charge customers for holding money at the bank. Europe: What is the effect of …
The Daily Shot Brief – March 1st, 2021
Greetings, United States: Personal incomes rose sharply in January, boosted by one-time government checks and elevated unemployment payments (2 charts). The savings rate jumped. Eurozone: Will the ECB allow yield curve steepening that occurred in the US? Emerging Markets: Higher soybean prices should help Argentina’s recovery. Cryptocurrencies: Robinhood now has millions …
