Greetings,
China: The PBoC unexpectedly cut its one-year benchmark rate as economic activity slumps.
The credit impulse is rolling over.
Japan: GDP growth was shockingly strong in Q2, boosted by net exports.
Europe: Economists have been lowering their unemployment forecasts for the euro area.
Emerging Markets: The Russian ruble bounced from the lows as the central bank hiked rates by 350 bps to stabilize the currency.
Equities: The market is pricing in a no-recession scenario.
Rates: The largest long-dated Treasury ETF registered a significant outflow.
Food for Thought: Here are generative AI job listings:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
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