The Daily Shot® Brief

Greetings,

 

The United States: Healthcare workers, public school teachers, and restaurant/hotel workers drove a large portion of the job gains this year.

The United Kingdom: The GDP report was a bit better than expected, with September growth boosted by services.

Europe: Here is a look at business and household financing rates in the Eurozone.

Commodities: Flash memory prices are rebounding.

Equities: Retail investors don’t seem to be chasing the current rally.

Credit: Business loans held on banks’ balance sheets are now down on a year-over-year basis.

Food for Thought: The most-spoken language in each state besides English and Spanish:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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Greetings,

 

The United States: The yield curve inversion has intensified in the past few days.

Equities: The Nasdaq Composite has been up for nine consecutive trading sessions.

The Eurozone: Short-term inflation expectations are rebounding.

Energy: Brent crude is below $80/bbl.

China: China is in deflation as food prices sink.

Emerging Markets: The Philippine GDP topped expectations last quarter.

Food for Thought: Wealth per capita globally:

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: Tight bank lending standards indicate high recession odds.

Europe: The Czech koruna has been sagging, with EUR/CZK maintaining the uptrend channel.

Commodities: Gold and oil have been highly correlated in recent days.

Energy: Energy shares have been under pressure in recent days.

Equities: The correlation between stocks and bonds remains elevated.

Rates: China’s holdings of Treasuries continue to decline alongside the Fed’s QT.

Food for Thought: Contributions to CO2 emissions:

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: US financial conditions eased sharply over the past few days.

The United Kingdom: Homeowners are facing a refinancing shock.

Equities: Earnings downgrades have exceeded upgrades for eight weeks in a row.

The Eurozone: Euro-area October PMI reports have been awful.

Cryptocurrency: Crypto funds saw the sixth consecutive week of inflows.

Commodities:  Coffee, cocoa, and sugar continue to surge.

Food for Thought: Movies are becoming longer:

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 unemployment rate, as well as underemployment, edged higher in October.

Markets now see very little chance of another Fed rate hike in this cycle.

Asia-Pacific: Asian currencies are surging after last week’s US economic data and the FOMC meeting.

Emerging Markets: There has been a large valuation gap between Indian and Chinese equities since 2021, primarily driven by diverging multiples – the widest on record, according to Alpine Macro.

Credit: Last week was a good one for risk assets, including credit (2 charts).

Rates: The largest T-bill ETF saw large inflows last week.

Food for Thought: Paying for online news:

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: US labor productivity increased more than expected last quarter.

The United Kingdom: The 2-year gilt yield has been trending lower.

China: Average monthly earnings remain high relative to other EM countries.

Cryptocurrency: The Crypto Fear & Greed Index entered “greed” territory last week.

Energy: M&A activity in the US oil and gas industry has been rising.

Commodities: Tighter financial conditions could weigh on the S&P 500 over time.

Food for Thought: The average length of MLB games:

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: The ISM orders-to-inventories ratio points to a rebound in factory activity next year.

The October ADP private payrolls figure surprised to the downside again.

The United Kingdom: UK home prices unexpectedly jumped in October.

The Eurozone: Softness in the global industrial cycle has weighed on the Euro area economy.

Asia-Pacific: South Korea’s CPI report was firmer than expected.

Equities: The S&P 600 small-cap index is nearing the 2020 lows relative to the S&P 500.

Commodities: US cotton futures tumbled on Wednesday.

Food for Thought: Median US income by profession and gender:

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 growth in labor costs persists, illustrated by last quarter’s increases in the Employment Cost Index.

Europe: Poland’s inflation continues to soften.

China: Sales revenues and profit margins are starting to recover.

Commodities: Central banks keep buying a lot of gold.

Energy: Uranium prices are surging.

Equities: S&P 500 futures experienced a long streak of speculative net-short positioning, which ended last week.

Credit: Commercial real estate lending has slowed sharply.

Food for Thought: Antisemitic incidents in the US:

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: Companies are increasingly concerned about rising financing costs.

The Eurozone: The market is pricing in deeper ECB rate cuts ahead.

Japan: The BoJ will allow the 10-year JGB yield to rise further. Bonds sold off on the news.

Asia-Pacific: South Korea’s industrial production surprised to the upside.

China: The official manufacturing PMI unexpectedly entered contraction territory in October.

Equities: Here is Goldman’s sentiment indicator.

Commodities: US orange juice futures climbed above $400 for the first time.

Food for Thought: Surging insurance rates across the country due to extreme weather:

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: Household incomes continue to grow, …

.. but are rising slower than consumer spending.

The Eurozone: Spain’s GDP held up well last quarter.

Commodities: Gold funds finally saw an inflow.

Energy: The US rig count increased again last week.

Equities: The KBW index of bank shares hit the lowest level since the initial COVID shock.

Food for Thought: Life expectancy for dogs:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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