Author: The Daily Shot Editor

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The United States: Business investment expanded again.

The United Kingdom:  UK consumer confidence improved this month.

Japan: Flows into Japan-focused equity funds have surged in recent days.

Cryptocurrency: Major cryptos are down month-to-date, with Bitcoin Cash (BCH) underperforming top peers.

Commodities: Copper futures continue to surge.

Equities: Shares of tech giants surged in after-hours trading as the market responded positively to announcements from Alphabet and other major players.

Food for Thought: Cancer mortality rates:

Edited by Josh Oldmixon

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The United States: Market rent levels have been outpacing the rent CPI.

China: Economists have been raising their GDP projections for 2024.

Equities: Retail investors are turning bearish, with the AAII bull-bear spread dipping into negative territory for the first time this year.

Rates: Longer-term rates are vulnerable to the Fed’s “higher for longer” policy.

Commodities: The market for semi-processed copper ore is currently facing exceptional scarcity, as traders and smelters are paying prices for copper ore that nearly match its processed value, suggesting a lack of readily available supplies

Energy: US crude oil stockpiles declined sharply last week (the market expected an increase). Inventory data for refined products was less bullish. Below are weekly changes.

The largest oil ETF saw record outflows this week.

Food for Thought: Wage growth by age:

Edited by William Villacis

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The United States: The Philly Fed’s regional service sector report shows companies cutting back employee hours.

The United Kingdom: The FTSE 100 hit a new high.

Japan: Japan’s real wages have been depressed for decades.

Commodities: Some analysts have suggested that China has driven the recent gold rally.

Energy: European natural gas storage levels remain elevated.

Equities: The AI basket selloff was significant.

Credit: CMBS spreads remain elevated as concerns about commercial property debt persist in some sectors.

Food for Thought: Rapid progress in machine learning systems:

Edited by Josh Oldmixon

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The United States: Housing inflation has been running hotter than leading indicators suggest.

The Eurozone: Germany’s composite PMI is back in growth mode, topping expectations. The improvement was driven by services, with the manufacturing slump persisting this month.

Japan: Services CPI could climb further, forcing the BoJ to deliver another rate hike.

Commodities: Gold declined sharply on Monday as geopolitical tensions appear to have eased.

Energy: So far, higher oil prices have not boosted the expected earnings of global energy firms.

Equities: Here is a look at Goldman’s CapEx growth estimate for this year.

Credit: Active bond funds have been attracting more capital.

Food for Thought: Changes in year-to-date homicide numbers relative to 2023:

Edited by William Villacis

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The United States: The market continues to scale back its expectations for Fed rate cuts in 2024.

The United Kingdom: Capital Economics sees more substantial rate cuts for the UK and US than is priced into the market.

Commodities: Industrial metals continue to rally.

Equities: The Magnificent 7 also posted six consecutive losses.

Rates: Goldman sees Treasury yields declining by the end of the year.

Food for Thought: States with the fewest young homeowners:

Edited by Josh Oldmixon

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The United States: The Philly Fed’s regional manufacturing index rose this month, signaling an improvement in US factory activity. This report contrasts with the earlier data from the New York Fed.

Japan: Inflation eased last month.

Cryptocurrency: It has been a tough month for cryptos, with several altcoins underperforming bitcoin.

Equities: Micorcaps’ underperformance worsened this week.

Food for Thought: Highest-grossing music festivals:

Edited by Josh Oldmixon

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Commodities: Crude oil prices declined on Wednesday as traders unwound some of the geopolitical risk premium while US stockpiles continue to grow.

The United States: Mortgage applications remain well below last year’s levels.

The United Kingdom: The UK CPI figures for March were a bit higher than anticipated.

Rates: Some traders are betting that the economy and inflation will weaken significantly in the months ahead, forcing the Fed to deliver three rate cuts.

Global Development: Global inflation is much stickier than in the past.

Equities: The put/call ratio surged this week.

Food for Thought: US military’s R&D expenditure by department:

Edited by William Villacis

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Greetings,

 

The United States: The US manufacturing sector showed further signs of a rebound, with the March gain in factory output topping expectations.

The United Kingdom: Wage growth remains elevated, topping forecasts.

China: Residential housing activity:

Commodities: Fund managers have been boosting their allocations to commodities.

Equities: Speculative shares underperformed sharply in recent days.

Rates: Treasuries remain under pressure.

Food for Thought: Fast food price inflation:

Edited by Josh Oldmixon

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The United States: Here are the March changes in retail sales by sector.

The Eurozone: The euro continues to move lower relative to the US dollar as indicators of inflation surprises diverge.

Equities: Sentiment has deteriorated sharply. Here is Goldman’s “panic index.”

The S&P 500 has experienced multiple expansion despite high real bond yields.

Commodities: Rice futures surged as Indian rice exporters expressed concerns about their ability to transport the commodity.

Energy: Technicals suggest Brent oil is overbought, although not yet extreme compared to prior peaks.

Cryptocurrency: The proportion of total bitcoin mining revenue compared to BTC trading volume has persistently declined after prior halvings. This may suggest that miner influence on price action has waned.

Food for Thought: Tesla and BYD EV sales:

Edited by William Villacis

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Greetings,

 

The United States: Inflation expectations moved higher as gasoline prices increased.

The latest US upside inflation surprise stands out among advanced economies.

The Eurozone: Eurozone wage growth is expected to slow later this year.

Europe: Speculative accounts are increasing their bets against the Swiss franc in anticipation of further rate cuts by the SNB.

China: Beijing announced more measures to support the equity market, sending stocks higher.

Equities: Volatility skew jumped on Friday amid market jitters.

Commodities: Coffee continues to surge.

Food for Thought:  Leading coffee exporting countries to the US:

Edited by William Villacis

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