The Daily Shot Brief – October 25th, 2021

Greetings,   United States: The nation’s capital expenditures have been relatively slow since the pre-financial-crisis trend.   US fixed assets are rapidly aging. Combined with labor shortages, these trends point to robust business investment ahead.   Europe: This chart shows homeownership rates in the EU.   China: China’s urbanization rate is increasing but at a …

The Daily Shot Brief – October 25th, 2021

Greetings,   United States: Next, we have some updates on inflation. Based on economic data, there is plenty of slack in the US economy. As a result, inflation should moderate. However, when production capacity and labor utilization are constrained by supply instead of demand, one should recalibrate the measures of slack. Wage growth is likely …

The Daily Shot Brief – October 22nd, 2021

Greetings,   China: Long-term correlation between China’s government bonds and Treasuries has been climbing since the financial crisis.   Eurozone: What are the polls and the betting markets telling us about the French presidential election?   United States: Options markets are pricing in a higher probability of inflation exceeding 3% over a longer period.   …

The Daily Shot Brief – October 20th, 2021

Greetings,   United States: Residential construction eased in September, with single-family housing starts and construction permits dipping below last year’s levels.   Europe: Which countries are most dependent on Russian natural gas?   China: Beijing is trying once again to curb coal prices.   Part of the problem is the disconnect between coal and electricity …

The Daily Shot Brief – October 15th, 2021

Greetings,   United States: Is the US facing stagflation? Not quite. But “slowflation” is a possibility.   Eurozone: The recent rise in Eurozone inflation was largely due to the rebound in energy prices.   Asia-Pacific: Covid cases in Australia are surging.   Energy: Brent crude is trading near $85/bbl. US gasoline futures are approaching $2.50/gal …

The Daily Shot Brief – October 14th, 2021

Greetings,   United States: The Department of Energy estimates that heating costs for households will be 30% higher this winter.   Eurozone: Industrial production dipped in August.   Emerging Markets: The Turkish lira continues to sink as Erdogan crushes the central bank   Cryptocurrency: Bitcoin continues to outperform.   Equities: Global earnings downgrades are about …