Greetings, United States: Two-thirds of Americans think that the worst of the pandemic is “behind us.” Eurozone: Euro-area service confidence (sharp rebound): China: Beijing has lost patience with China’s strengthening currency. Energy: Brent is trading above $70/bbl. US rig count and frac spreads are grinding higher. Equities: The Reddit crowd was …
The Daily Shot Brief – May 27th, 2021
Greetings, Business: Buy now, pay later services: – reasons: – products: Technology/Business: E-commerce users vs. GDP per capita: Environment: Best ways to reduce carbon footprint: Politics: US party affiliation: Health: Population with health insurance: Demographic Trends: Mobility trends: Edited by Devon Lall Contact the Daily Shot Editor: Editor@DailyShotLetter.com If you …
The Daily Shot Brief – May 26th, 2021
Greetings, United States: The US dollar continues to weaken. The decline in US real rates suggests further weakness for the dollar. Asia-Pacific: The RBNZ struck a hawkish tone. The Kiwi dollar and bond yields jumped. Commodities: Gold is back above $1900/oz. Equities: Bank shares sold off as Treasury yields declined. …
The Daily Shot Brief – May 25th, 2021
Greetings, Administrative Update As a reminder, The Daily Shot Brief will not be published from May 27th to May 31st. United States: The consensus inflation projections have barely moved for 2022 CPI compared with the surge in 2021 forecasts. The Fed refers to this trend as “anchored” longer-term inflation expectations. Low-income employment recovery …
The Daily Shot Brief – May 24th, 2021
Greetings, Administrative Update As a reminder, The Daily Shot Brief will not be published from May 27th to May 31st. Commodities: Beijing has lost patience with the recent acceleration in commodity costs. Industrial commodities are under pressure. Here are steel rebar futures in Shanghai: And iron ore futures in Singapore: Equities: Adjusted for inflation, …
The Daily Shot Brief – May 21th, 2021
Greetings, United States: Initial jobless claims continue to ease. We should see a substantial drop in continuing claims (2nd chart) next month as several states terminate emergency benefits. China: Bond yields have been declining, … … with China’s debt outperforming other EM. Cryptocurrency: Here is the history of bitcoin drawdowns. Equities: …
The Daily Shot Brief – May 20th, 2021
Greetings, United States: Mortgage applications to purchase a house have lost momentum. As we saw yesterday, residential construction is facing some headwinds. Homebuilders’ shares have underperformed this month. Eurozone: Inflation options are pricing in a 16% probability that the CPI will exceed 2% over the next five years. Emerging Markets: India’s COVID-related deaths …
The Daily Shot Brief – May 19th, 2021
Greetings, United Kingdom: Here is a forecast for UK growth vs. the Eurozone. Eurozone: Weak productivity gains have been a drag on the neutral rate, limiting the ECB’s room to hike. Asia-Pacific: This chart shows each country’s tourism trade balance as a share of the GDP. China: China dominates cleantech industries. …
The Daily Shot Brief – May 18th, 2021
Greetings, United States: Morgan Stanley expects a rapid increase in CapEx over the coming years. Europe: This chart shows the EC’s projections for the output gap. China: China continues to dominate global solar panel production. Emerging Markets: Chile elected a left-leaning assembly and asset prices tumbled. Energy: US retail gasoline …
The Daily Shot Brief – May 17th, 2021
Greetings, Europe: Here is the projected growth map. Asia-Pacific: Taiwan’s stock market has been tumbling in recent days amid investor deleveraging (2nd chart). China: Domestic rating companies are starting to do their job, … … as local bond defaults soar. Commodities: Commodities have been reacting strongly to global growth …
