The Daily Shot Brief – March 26th, 2020

Greetings,   United States: Mortgage applications for home purchase fell last week. Further declines are expected. Refi activity slowed as well as mortgage rates rose (see chart).   Eurozone: What portion of the GDP is operational, disrupted, or fully shut?   Energy: US gasoline crack spreads went negative this week as demand collapses.   Equities: …

The Daily Shot Brief – March 24th, 2020

Greetings,   United States: The Federal Reserve announced a new set of policy measures designed to stabilize the credit markets and cushion the economic contraction. The scope of some of these actions is unprecedented, going beyond what we saw in 2008. • Unlimited QE: Purchases of “Treasury securities and agency mortgage-backed securities in the  amounts needed to …