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The United States: Consumer credit growth slowed sharply in May.
Non-revolving consumer credit (mostly auto loans and student debt) declined for the first time since the pandemic shock.
The Eurozone: The Treasury-Bund spread has diverged from the US-Eurozone economic surprise differential.
China: Beijing appears to have stabilized the renminbi.
Equities: Hawkish signals from the Fed and robust US employment data sent the stock-bond correlation back into positive territory.
Alternatives: Global private equity activity has been running well below 2022 levels.
Cryptocurrency: The Grayscale Bitcoin Trust’s discount has narrowed significantly on hopes for a spot-bitcoin ETF conversion.
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Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
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