Greetings,
Equities: It was a rough week for stocks globally.
The number of Nasdaq stocks hitting 52-week lows surged.
Rates: The US Treasury’s cash balances at the Fed have rebounded sharply after the debt ceiling was lifted. That’s pulling deposits out of the private sector.
As a result, bank reserves declined sharply in recent weeks. One could think of this process as a form of “quantitative tightening” …
… which some view as bearish for stocks.
Energy: International energy stocks are trading nearly 35% cheaper than their US peers.
Cryptocurrency: Bitcoin’s correlation to stocks continues to climb.
United States: Regional Fed presidents are expected to be hawkish this year.
Food for Thought: Vaccine hesitancy in advanced economies:
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
