The Daily Shot Brief – July 21st, 2020

Greetings,   United States: This chart shows the percentage of shuttered small and medium-sized businesses across industries most impacted by the crisis. The recovery has entered the slow (“pandemic”) phase, according to Moody’s Analytics.   Emerging Markets: Core inflation has decelerated across most of EM Asia, except India.   Equities: Retail traders are chasing ‘hot’ stocks. …

The Daily Shot Brief – July 15th, 2020

Greetings,   United States: The headline CPI increased, driven by the recovery in fuel costs and soaring food prices. Market-based inflation expectations have nearly recovered from the pandemic-led decline.   China: The nation’s trade surplus is near multi-year highs on a year-to-date basis.   Equities: Here is a summary of S&P 500 dividend cuts, suspensions, …

The Daily Shot Brief – July 14th, 2020

Greetings,   United States: The 2020 federal deficit is rapidly approaching $3 trillion after the biggest monthly increase on record in June (see story).   Europe: Here is the IMF’s latest GDP projection for the EU.   China: Foreign investors are increasingly buying Chinese government debt for safety and yield.   Equities: Analysts’ earnings estimates …

The Daily Shot Brief – July 13th, 2020

Greetings,   Equities: Tech mega-caps increasingly dominate the US benchmark.   Rates: Speculative investors are now net long the 10yr note futures.   Energy: Last month’s Dallas Fed Energy survey showed that nearly 75% of energy and production firms are expected to restore their curtailed output over the next three months. Stockpiles of gasoline and …

The Daily Shot Brief – July 10th, 2020

Greetings,   United States: Another 1.4 million Americans filed for unemployment benefits last week. While the headline initial claims figure has been gradually moderating, the situation is more troubling when the Pandemic Unemployment Assistance (PUA) program is taken into account.   Eurozone: The number of European “zombie” companies is on the rise.   China: The …

The Daily Shot Brief – July 9th, 2020

Greetings,   Global Developments: Despite the recent bounce, inflation swap markets still expect the CPI to remain subdued for years to come.   United States: Credit card borrowing declined sharply this year. Households cut back spending while the government offered generous support. In the first quarter, Northeast states saw a sharper GDP contraction than the …