Greetings, The United States: The US and global economic growth rates are highly correlated. United Kingdom: Here is a visual comparison of Boris Johnson’s vs. Theresa May’s Brexit plans. Emerging Markets: Brazil’s service sector continues to expand. Commodities: Steel scrap prices keep sinking as China stops imports. Global Developments: Across …
The Daily Shot Brief – October 3rd, 2019
Greetings, The United States: Trade policy uncertainty has reached new highs. United Kingdom: The UK stock market took the biggest one-day hit in years. While the decline was part of the global selloff, some investors were also unnerved by the possibility of an administrative border between Northern Ireland and the rest of Great …
The Daily Shot Brief – October 2nd, 2019
Greetings, The United States: Let’s begin with the September ISM manufacturing PMI report, which was below economists’ forecasts. US factory activity is rapidly shrinking (PMI below 50). Eurozone: The Eurozone’s financial conditions have been easing. Does this trend signal a bottom in factory activity? Europe: Switzerland’s economy appears to be in recession. …
The Daily Shot Brief – October 1st, 2019
Greetings, The United States: Upper-income households are becoming increasingly cautious. United Kingdom: UK households’ cash holdings are outpacing spending. A resolution of the Brexit impasse could unleash consumption. Europe: Is Germany pulling Switzerland into recession? Asia-Pacific: Here’s a look at the proportion of Australian homes that sold for less than the …
The Daily Shot Brief – September 30th, 2019
Greetings, The United States: The service sector is expected to support economic growth in the near-term. United Kingdom: UK equities are close to their relative valuation lows versus the rest of the world since the early 1990s. The Eurozone: Despite negative interest rates, savings in the Eurozone continue to climb. Emerging …
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The Daily Shot Brief – September 27th, 2019
Greetings, The United States: Some Fed officials have been concerned about commercial real estate prices, which have outpaced the GDP growth. With the decline in rates over the past year, however, property prices will continue to climb. United Kingdom: The probability of Brexit by November 1st dipped to around 20% in the betting markets. …
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The Daily Shot Brief – September 26th, 2019
Greetings, The United States: First off, a quick update on the state of the housing market. New home sales surprised to the upside. Eurozone: German retail sales are facing some headwinds as sentiment softens. China: Small business loan growth tumbled as Beijing clamped down on shadow financing. It was an unintended consequence …
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The Daily Shot Brief – September 25th, 2019
Greetings, The United States: Here is the gap between consumer expectations and current conditions. Extreme lows in this measure tend to indicate that we are in the late phase of the economic cycle. Eurozone: Finally, this chart shows the average annual employment and GDP growth by period. The current expansion is more “employment-rich” than …
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The Daily Shot Brief – September 24th, 2019
Greetings, Eurozone: The next shoe to drop could be Germany’s labor market. United Kingdom: Credit quality continues to deteriorate for UK industrials. The United States: Credit standards have been tightening. However, small businesses appear to have no trouble accessing credit. China: Rather than boosting spending in response to Beijing’s tax cuts, households have engaged …
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The Daily Shot Brief – September 23rd, 2019
Greetings, The United States: Trade policy uncertainty is creating headwinds for businesses, including those in non-manufacturing sectors. Eurozone: Germany’s producer price inflation is approaching zero. Asia – Pacific: The weakness in Asia’s exports persists, which doesn’t bode well for global growth. South Korea saw its biggest decline in a decade. China: …
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