Greetings, United States: While economic growth remained robust in the second quarter, the GDP report surprised to the downside. United Kingdom: Credit and debit card spending has fallen in recent weeks. Equities: Robinhood’s debut session was not what investors (including retail clients) hoped to see. Will this inject some caution into …
The Daily Shot Brief – July 29th, 2021
Greetings, United States: The FOMC statement suggests that QE is no longer on “autopilot.” The Fed officials took the “first deep dive” into scaling back purchases. But what does assessing progress in the “coming meetings” mean? United Kingdom: Did Euros matches contribute to the recent spike in COVID cases? China: The …
The Daily Shot Brief – July 28th, 2021
Greetings, United States: At the national level, inventories-to-sales ratios are at record lows. Eurozone: The whole Bund curve is about to go negative. China: Manufacturing investment remains weak despite the recent rise in exports. Equities: M&A is becoming more challenging in the current environment. Credit: 1st-lien recovery expectations continue …
The Daily Shot Brief – July 27th, 2021
Greetings, United States: This chart shows US retail mobility by region. Eurozone: Will the slowdown in the money supply expansion put downward pressure on economic growth? Japan: Support for Yoshihide Suga continues to decline (see story). Commodities: How will climate change impact where wheat crops are grown? Equities: The …
The Daily Shot Brief – July 26th, 2021
Greetings, United States: Faster wage growth has been constrained to several low-wage sectors, according to BCA Research. Canada: “Subprime” mortgages are on the rise in Canada. United Kingdom: Hospital admissions would be surging without the vaccine program. China: Education stocks are tumbling as Beijing cracks down (forcing them to become …
The Daily Shot Brief – July 23rd, 2021
Greetings, United States: Initial jobless claims remain stubbornly high relative to pre-pandemic levels. Eurozone: The ECB slightly adjusted its forward guidance based on the new strategy. The central bank is now even more dovish, with tapering unlikely to be announced this quarter. The statement language was shorter and more direct. …
The Daily Shot Brief – July 22nd, 2021
Greetings, Credit: US aggregate lending standards haven’t been this easy since 2005. Equities: Ivy League endowments continue to boost their US equity exposure. Cryptocurrency: Our friend Elon returned to pump Bitcoin. China: Evergrande’s bond price tumbled below 50c on the dollar as Hong Kong banks pull back financing. Eurozone: …
The Daily Shot Brief – July 21st, 2021
Greetings, United States: Longer-dated market-based inflation expectations have been moderating, … … as the market accepts the “transient” theme. Eurozone: This chart shows the relative importance of service exports by country. Asia-Pacific: Inflation in EM Asia countries appears relatively tame. Fitch Solutions expects inflation rates to recede through the second …
The Daily Shot Brief – July 20th, 2021
Greetings, United States: Consumers increasingly see housing as too expensive, and fewer households are comfortable with the current mortgage rates. Nonetheless, demand remains robust. United Kingdom: This chart shows the UK’s most valuable unicorns. China: Shadow financing has fallen since the 2017 peak as a result of Beijing’s crackdown on …
The Daily Shot Brief – July 19th, 2021
Greetings, United States: The U. Michigan consumer sentiment report showed confidence deteriorating this month. Analysts have attributed this decline to higher prices and the loss of emergency unemployment benefits. Europe: Germany’s two major parties continue to lose support. China: China’s rebalancing toward the private sector continues. Equities: Companies with higher …
