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The United States: Housing inventories continue to climb.
Equities: The S&P 500’s 12-month forward P/E ratio is approaching 22x, widening the gap with the average valuation of its constituent members.
S&P 500 implied volatility has been significantly higher than realized volatility due to the upcoming earnings season and elections.
China: Historically, equity rallies have been more durable following fiscal stimulus announcements vs. monetary easing.
Global Developments: Inflation volatility has advanced in recent years and could stay elevated.
Energy: U.S. crude oil inventories jumped last week, while refined product stockpiles, particularly gasoline, saw steep declines.
Food for Thought: Most popular job searches in the US:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
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