The Daily Shot Brief – August 1st, 2023



The United States: Freddie Mac’s house price index was up in June on a year-over-year basis. Note that the index didn’t cross the zero mark in this cycle.

Source: The Daily Shot


Fed rate hikes have yet to kick in. The Fed-sensitive (cyclical) CPI component is still near the highs.

Source: Simon White, Bloomberg Markets Live Blog


China: The manufacturing PMI from S&P Global showed an unexpected contraction as demand slows.

Source: The Daily Shot
Source: Reuters  Read full article


The Eurozone: The factors propelling the surge in the Euro-area’s Q2 GDP are unlikely to be sustainable. The lion’s share of these gains can be attributed to the notoriously volatile Irish GDP, which is often subject to significant revisions, and the exports of transport equipment in France, predominantly from a single cruise boat.

Source: Capital Economics


Equities: Hedge funds’ short-covering this summer hasn’t been this aggressive since 2016.

Source: Goldman Sachs
Source: @markets  Read full article


Credit: TIPS flows finally turned positive last week.

Source: BofA Global Research


Energy: OPEC’s output declined in July

Source: The Daily Shot
Source: Reuters  Read full article


Food for Thought: Here is the projected US federal deficit and debt:

Source: CBO
Source: Reuters  Read full article

Edited by William Villacis

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