The Daily Shot Brief – June 4th, 2024

Greetings,

 

The United States: The ISM Manufacturing PMI moved deeper into contraction territory in May as demand softened.

Source: The Daily Shot
Source: MarketWatch   Read full article

 

However, factories are hiring again.

Source: The Daily Shot

 

The Eurozone: The contraction in manufacturing activity at the Eurozone level has been slowing.

Source: The Daily Shot

 

Emerging Markets: The largest Mexican equity ETF (EWW) was down over 10% on Monday.

Source: The Daily Shot
Source: Reuters   Read full article  

 

Commodities: Crude oil is sharply lower this week after the OPEC+ meeting as the market appears to be well supplied.

Source: The Daily Shot
Source: @markets   Read full article

 

Equities: Here is a look at the S&P 500 performance across the presidential election cycle.

Source: Truist Advisory Services

 

Credit: Small banks have been increasing CRE exposure.

Source: Simon White, Bloomberg Markets Live Blog

 

Food for Thought: Shift in fitness visits by time of day and its impact on fitness growth:

Source: Placer.ai

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – June 3rd, 2024

Greetings,

 

Canada: The first-quarter GDP growth report surprised to the downside, sending bond yields lower.

Source: The Daily Shot
Source: Reuters   Read full article  

 

The United States: Real consumer spending unexpectedly fell in April, indicating a slowdown in US economic activity.

Source: The Daily Shot

 

China: The PMI report from S&P Global indicates that China’s manufacturing expansion is accelerating.

Source: The Daily Shot

 

Emerging Markets: The Mexican peso took a hit following the election outcome.

Source: The Daily Shot
Source: @markets   Read full article  

 

India’s annual GDP growth surprised to the upside.

Source: The Daily Shot
Source: @economics   Read full article  

 

Credit: The leveraged loan distress ratio and default rate have eased over the past year.

Source: PitchBook  

 

Food for Thought: Nvidia’s income statement:

Source: @WallStreetOasis  

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 31st, 2024

Greetings,

 

The United States: Treasury yields declined in response to the GDP revision.

Source: The Daily Shot

 

The United Kingdom: According to the CBI, UK retail sales unexpectedly rebounded in May.

Source: The Daily Shot
Source: The Guardian

 

Europe: Sweden’s Q1 GDP growth topped expectations.

Source: The Daily Shot

 

Cryptocurrency: Presidential meme coins experienced sharp price swings on Thursday.

Source: BYBIT
Source: BYBIT

 

Energy: The Brent crude curve shifted into contango.

Source: The Daily Shot

 

Equities: Regional banks continue to underperform.

Source: @TheTerminal, Bloomberg Finance L.P.

 

Food for Thought: Coal-fired capacity in development:

Source: @opinion

 


Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 30th, 2024

Greetings,

 

The United States: Here are some Beige Book trends.

Source: Oxford Economics  

 

The Eurozone: Aggregate credit extended to the non-financial sector has fallen significantly.

Source: Alpine Macro  

 

China: Last month, depositors withdrew a significant amount of capital from China’s banks.

Source: @markets   Read full article  

 

Commodities: Orange juice prices continue to soar.

Source: @financialtimes   Read full article  

 

Credit: US banks continue to carry substantial unrealized mark-to-market losses on their bond holdings.

Source: FDIC  

 

Global Developments: Container shipping costs are rising.

Source: @JeffreyKleintop  

 

Food for Thought: AI-related job openings:

Source: Goldman Sachs  

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 29th, 2024

Greetings,

 

The United States: The market no longer expects two Fed rate cuts this year, with only 31 bps of reductions currently priced in.

Source: The Daily Shot
Source: @markets

 

Japan: JGB yields continue to surge.

Source: The Daily Shot

 

Australia: The monthly CPI report surprised to the upside.

Source: The Daily Shot

 

Energy: CTAs are bullish on crude oil.

Source: Deutsche Bank Research

 

Equities: The Dow is back at its 50-day moving average.

Source: The Daily Shot

 

Rates: Here is a look at rate trajectories across the Fed’s easing cycles.

Source: EY-Parthenon

 

Food for Thought: Cocaine in wastewater in European cities:

Source: @bpolitics

 


Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 28th, 2024

Greetings,

 

The Eurozone: Implied volatility in the rates markets has been trending lower.

Source: @TheTerminal, Bloomberg Finance L.P. 

 

The United States: Estimates for growth in imports and exports have diverged.

Source: @TheTerminal, Bloomberg Finance L.P.  

 

The United Kingdom: Retail sales declined more than expected last month.

Source: The Daily Shot
Source: Reuters   Read full article  

 

Equities: The rally is increasingly dominated by tech/growth stocks, with the rest of the market lagging. Here is last week’s performance by sector:

Source: The Daily Shot

 

Commodities: There is a growing divergence in the performance of copper mining equities and the spot price.

Source: PGM Global  

 

Emerging Markets: The Vietnamese dong has been under pressure.

Source: The Daily Shot
Source: @markets   Read full article  

 

Cryptocurrency: Ether open interest surged last week on hopes of a spot-ETF approval. Funding rates also flipped positive from yearly lows, reflecting bullish sentiment.

Source: @KaikoData  

 

Food for Thought: Value of investments in pandemic winners in the post-pandemic world:

Source: Statista  

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 24th, 2024

Greetings,

 

The United States: Export orders are growing faster.

Source: The Daily Shot

 

The United Kingdom: Price gains continue to moderate.

Source: The Daily Shot

 

Japan: Inflation keeps slowing.

Source: The Daily Shot
Source: Reuters

 

China: The stock market rally is fading.

Source: @TheTerminal, Bloomberg Finance L.P.

 

Emerging Markets: Chile’s central bank slowed the pace of rate cuts to 50 bps.

Source: The Daily Shot

 

Equities: NVIDIA vs. Intel:

Source: The Daily Shot

 

Food for Thought: Best cities to work in, according to the class of 2024:

Source: @axios

 


Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 23rd, 2024

Greetings,

 

The United States: Language in the minutes is hawkish, as seen in the broader Fed sentiment index.

Source: The Daily Shot

 

The United Kingdom: The UK CPI report topped expectations.

Source: Pantheon Macroeconomics  
Source: @economics   Read full article  

 

Japan: Manufacturing is back in growth territory.

Source: The Daily Shot
Source: Reuters   Read full article  

 

Emerging Markets: This month, South Africa’s stock market experienced a robust rally, boosted by surging commodity prices.

Source: The Daily Shot

 

Commodities: The metals rally is fading.

Source: The Daily Shot

 

The dollar has strengthened alongside commodities in recent years.

Source: Alpine Macro  

 

Global Developments:  Many advanced economies’ central banks are expected to cut rates by similar magnitudes. This is despite varying effective policy tightening, measured by the pass-through of rate hikes to mortgage markets.

Source: Deutsche Bank Research  

 

Food for Thought: Fertility rates in select economies:

Source: @WSJ   Read full article  

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 22nd, 2024

Greetings,

 

The United States: The Philly Fed’s index shows that service sector sales continued to expand modestly this month.

Source: The Daily Shot

 

The United Kingdom: Industrial orders deteriorated this month.

Source: The Daily Shot
Source: Reuters

 

Europe: Here is a look at the IMF’s forecasts for government debt.

Source: @DanielKral1, @IMFNews

 

Energy: Brent crude is nearing $82/bbl.

Source: The Daily Shot

 

Equities: A number of sell-side analysts are bullish, ..

Source: Yahoo Finance

 

… but current prices are well above the average year-end forecast.

Source: @johnauthers, @opinion

 

Food for Thought: The tax burden by state:

Source: Visual Capitalist

 


Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com




The Daily Shot Brief – May 21st, 2024

Greetings,

 

The United States: According to the Atlanta Fed’s wage growth tracker, US wage gains are slowing but remain above pre-COVID levels.

Source: The Daily Shot

 

The Eurozone: The market expects the ECB to ease more aggressively this year than the Fed.

Source: @TheTerminal, Bloomberg Finance L.P.  

 

Emerging Markets: Chile’s economy posted solid growth last quarter.

Source: The Daily Shot
Source: @economics   Read full article  

 

Commodities: The global silver market is on course for the fourth straight year of shortages.

Source: @markets   Read full article  

 

Equities: The Russell 2000 breadth has diverged from Treasury yields.

Source: @TheTerminal, Bloomberg Finance L.P.  

 

Alternatives: US venture capital valuations are growing at some of the slowest rates seen over the past decade.

Source: PitchBook  

 

Food for Thought: Use of AI in the M&A process:

Source: Bain   Read full article  

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com