The Daily Shot® Brief

Greetings,

 

The United States: Tighter financial conditions have resulted from higher bond yields, recent gains in the dollar, and the stock market wobble.

The United Kingdom: UK inflation has been more persistent than that in the Eurozone.

Commodities: Have agriculture fund outflows finally ceased?

Energy: European LNG prices remain elevated amid labor uncertainty in Australia’s gas platforms.

Equities: Sentiment deteriorated sharply in recent days.

• • The put/call ratio:

Food for Thought: The US pay gap has been narrowing:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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Greetings,

 

The United States: The Philly Fed’s regional manufacturing index points to improving factory activity this month.

Japan: This chart shows Japan’s service-sector activity.

Emerging Markets: EM debt funds saw substantial outflows last week.

Cryptocurrency: It has been a difficult week for cryptos, with Litecoin’s LTC underperforming top peers.

Rates: Either Treasury yields are heading lower, or the Fed isn’t done with rate hikes yet.

Food for Thought: Are advertisers ignoring older Americans?

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States:  Last month’s housing starts were stronger than expected, climbing above 2022 levels.

Australia: The labor market shows signs of sputtering, with unexpected job losses in July.

China: The renminbi hit the lowest level vs. USD since 2008 as Beijing tries to arrest the decline.

The rate differential with the US continues to widen, pressuring China’s currency.

Credit: The Bank Term Funding Program usage keeps rising, suggesting that some smaller US banks are facing funding headwinds.

Energy: US crude oil production hit the highest level since the COVID shock.

Food for Thought: Commodity costs as a share of battery prices:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: Robust Amazon Prime Day and back-to-school sales contributed to the upside surprise. The charts below provide the breakdown by sector.

The United Kingdom: Inflation was higher than expected last month, with the core CPI remaining stubbornly high.

Europe: Sweden’s core inflation remains stubbornly high.

China: International air travel remains below pre-COVID levels.

Equities: Global fund managers are becoming less bearish.

Global Developments: NDR’s global recession probability has declined.

Food for Thought: US credit card delinquencies:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

China: The PBoC unexpectedly cut its one-year benchmark rate as economic activity slumps.

The credit impulse is rolling over.

Japan: GDP growth was shockingly strong in Q2, boosted by net exports.

Europe: Economists have been lowering their unemployment forecasts for the euro area.

Emerging Markets:  The Russian ruble bounced from the lows as the central bank hiked rates by 350 bps to stabilize the currency.

Equities: The market is pricing in a no-recession scenario.

Rates: The largest long-dated Treasury ETF registered a significant outflow.

Food for Thought: Here are generative AI job listings:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: One driver of the services PPI gains was a sharp increase in portfolio management fees. Stock market gains boosted the dollar amount charged for asset management.

Despite higher gasoline prices, consumer inflation expectations eased this month.

Equities: BofA’s private clients have been dumping growth stocks.

Rates: TIPS flows are rebounding.

The United Kingdom: The GDP report surprised to the upside with robust gains in June.

China: Loan growth hit a multi-year low. Here are year-over-year changes.

Emerging Markets: Turkey’s current account swung into surplus in June.

Food for Thought: Opening weekends for films and box-office revenue:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: The market is increasingly convinced that the Fed will be on hold in September.

China: The stock market retreated on concerns about property developers.

Emerging Markets: Turkey’s manufacturing output has been surging this year.

Equities: Speculative stocks are under pressure.

Emerging Markets: Egypt’s inflation continues to climb.

Commodities: This chart shows LNG import capacity additions globally.

Food for Thought: Change in homicides from last year:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: Mortgage applications continue to weaken as mortgage rates climb.

Equities: Institutional outflows from equities slowed last month.

Alternatives:  US private equity funds continue to mark down the value of their portfolios, which began around the second half of 2022. According to PitchBook, fewer exit opportunities mean fewer chances to mark up portfolios through realized returns.

China: Property developers are experiencing widening cash shortfall.

Emerging Markets: LatAm countries have the highest policy rates across EM and the most scope for rate cuts.

Commodities: Rice futures in Asia surged this week.

Food for Thought: How old should the US president be?

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: The NFIB small business sentiment index climbed again last month, boosted in part by the stock market strength.

Equities: The US stock/bond correlation flipped positive following the BoJ’s surprise yield curve control adjustment.

China: The PPI edged higher but remains negative on a year-over-year basis.

Cryptocurrency: Bitcoin remains in a historically low volatility regime. (2 charts)

Commodities: The BRICS central banks continue to amass gold.

Energy: Russian oil exports are retreating.

Food for Thought: Billionaires with more than $100 billion of net worth:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief

Greetings,

 

The United States: Tighter lending conditions point to a downturn in consumer credit ahead.

Equities: Here is a look at the S&P 500 Q2 year-over-year earnings growth by sector.

Rates: Speculators are positioned for a deeper curve inversion.

China: Exports surprised to the downside, declining 14.5% from last year.

Emerging Markets: Chile’s exports dipped below 2021 levels last month.

Commodities: US grains’ second attempt to rally has been thwarted.

Food for Thought: Here is insight into the Midwest drought:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily ShotAverage hourly wages for US teens: Brief