The Daily Shot Brief – December 12th, 2017



The United States: Goods prices in the US continue to be a drag on inflation. Efficient global supply chains and online retail are some of the reasons.

Source:; Read full article


Global Developments: How do stock markets around the world compare to the US in terms of price-to-book ratios?

Source: SPDR Americas Research


The Eurozone: An indicator of German economic expectations (ZEW) was a bit softer than expected.

Source: ZEW; Read full article


Credit: Commercial mortgage-backed securities (CMBS) portfolio balances are on the rise for the first time in a decade.

Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research: – The third quarter marks a significant turning point for the CMBS market. With only a few exceptions, since 2008, the balance of commercial and multifamily mortgages held in CMBS has declined each quarter. That years-long trend ended this quarter. With the so-called ‘wall of maturities’ behind us, and a vibrant market for new originations, we are once again seeing more new loans being originated for CMBS than we are seeing in old loans paying off and paying down. The result is the largest increase in outstanding CMBS mortgages since the end of 2007.

Source: MBA


Emerging Markets: EM sovereign bond ratings have decoupled from portfolio managers’ allocations to EM debt.

Source: @IIF


Energy Markets: The American Petroleum Institute showed a bigger than expected weekly dip in US crude oil stockpiles. More on the topic tomorrow.



Bitcoin: One has to be careful when comparing the Bitcoin market cap with other assets.

Source:; Read full article


Food for Thought: Female labor-force participation: Norway vs. the US.

Source: S&P Global; Read full article

Edited by Joseph N Cohen

To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.

If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.

The Daily Shot Premium is also available online at

If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to

Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis.

Contact the Daily Shot Editor:

Leave a Reply