Posted on by The Daily Shot Editor

The Daily Shot Brief – November 14th, 2018

Greetings,

 

The United States: Residential investment has been weakening in recent quarters.

Source: Oxford Economics

At the same time, the latest Senior Loan Officer Survey from the Fed shows falling demand for residential mortgages.

Source: FRB

It’s worth noting that in the past, declines in residential investment led the way into recessions.

Source: Capital Economics

 

China: China increasingly imports goods for domestic consumption (rather than for re-exporting).

Source: ANZ Research

 

The Eurozone: This chart compares share buybacks in the US and the Eurozone (this divergence contributed to the US outperformance).

Source: Gavekal

 

Equities: Below are the consensus quarterly earnings estimates for the S&P 500.

Source: Yardeni Research

 

Rates: Yields on Treasuries hedged into euros or yen are moving deeper into negative territory (making US bonds less attractive for foreign investors).

Source: The Daily Shot

 

Emerging Markets: EM debt levels have risen substantially over the past decade. Here is the breakdown.

Source: Moody’s Investors Service

 

 

Food for Thought: Rideshare drivers’ earnings:

Source: Gridwise

 

Edited by Joseph Cohen

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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen), Ycharts.com, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

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