Greetings,
The United States: US retail sales topped expectations as warm weather boosted spending after weak activity in December. Here is a breakdown:
![](https://thedailyshot.com/wp-content/uploads/US-Ret-Sales-Detail22302160501.png)
Industrial production was flat last month, but manufacturing output jumped.
![](https://thedailyshot.com/wp-content/uploads/US-IP2302160501.png)
Equities: The stock/bond correlation is negative again.
![](https://thedailyshot.com/wp-content/uploads/EQ-bond-correl2302160501.png)
Should stock investors be concerned about the Fed draining liquidity from the banking system? Stocks have diverged from Fed reserve balances.
![](https://thedailyshot.com/wp-content/uploads/EQ-Liq2302160501.png)
The United Kingdom: Sharp declines in mortgage approvals suggest that additional house price weakness is likely to follow. According to PGM Global, roughly 42% of UK mortgages are at variable rates or fixed rates that expire or reset within 24 months.
![](https://thedailyshot.com/wp-content/uploads/UK-HPA22302160501.png)
Emerging Markets: India’s trade deficit narrowed more than expected last month.
![](https://thedailyshot.com/wp-content/uploads/EM-Indias-trade-deficit-narrowed-more-than-expected-last-month2302160501.png)
Cryptocurrency: Cryptos surged this week.
![](https://thedailyshot.com/wp-content/uploads/BT-Rally2302160501.png)
![](https://thedailyshot.com/wp-content/uploads/BT-Rally-ST2302160501.png)
Food for Thought: Lastly, here is vegan-related online search activity:
![](https://thedailyshot.com/wp-content/uploads/VTF-AAA-Vegan-related-search-activity2302160501.png)
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com