The Daily Shot Brief – August 18th, 2021

Greetings,   United States: The Treasury market has been pricing in the debt ceiling risk. A technical default could occur in about three months when the US Treasury exhausts its sources of liquidity. Investors demand higher yields on T-bills maturing after that point.   Cryptocurrency: Bitcoin miners are experiencing greater revenue as blockchain’s hashrate recovers …

The Daily Shot Brief – August 13th, 2021

Greetings,     United States: In contrast with the CPI report, producer price data surprised to the upside. The monthly increase in the core PPI hit a multi-year high.   United Kingdom: Business investment was weaker than expected. Eurozone: The recovery in consumer confidence points to rising private consumption.   China: Despite the recent selloff, the …

The Daily Shot Brief – August 12th, 2021

Greetings,     United States: Consumer price gains remained elevated last month, but the pace of growth slowed (roughly in line with expectations).   Commodities: US lumber prices continue to sink.   Equities: Options volume is still elevated, especially relative to share trading volumes.   Rates: The 10-year real Treasury yield is far below the neutral real …