Greetings,
The United States: To begin, construction spending unexpectedly declined in June, driven by weakness in residential investment.
Looking at the yield curve, the 10-year – 3-month portion is about to invert. Some economists prefer this metric as a leading indicator of economic activity.
The Eurozone: The updated PMI report showed factory activity contracting throughout most Eurozone economies. Here is the PMI for the overall Eurozone:
Asia–Pacific: Japan’s vehicle sales are very soft for this time of the year.
China: China’s threats against Pelosi’s Taiwan visit shifted global sentiment to risk-off. Equity declines accelerated.
Emerging Markets: The Chilean peso is rebounding supported by the rise in copper prices in July. Copper production remains relatively weak.
Energy: Brent dipped below $100 again as fears of slowed production given weaker demand heightened.
Food for Thought: Lastly, here are daily visits to various locations:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
