Greetings,
United States: The ISM Services PMI surged in March, hitting a record high.
Here is the attribution.
Canada: The BOC’s ownership of shorter-maturity bonds is approaching 50% of outstanding.
Emerging Markets: New COVID cases in India hit a record high.
Nonetheless, factory growth held up well last month.
Some EM nations owe China quite a bit of money.
Commodities: The decline in Chinese cyclical versus defensive stocks points to a top in commodity prices …
… and a declining broad money impulse doesn’t help.
Energy: Crude oil sold off on Monday amid rising OPEC+ production.
Here is Iran’s oil output who added to the downward pressure.
Food For Thought: Views on MLB’s decision to relocate the All-Star game:
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
