The Daily Shot® 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

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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

Greetings,

 

The United States: Housing investment saw its first increase in ten quarters.

The United Kingdom: The CBI reported a deterioration in retail sales this month, with businesses expecting further weakness in demand next month.

Japan: Food inflation remains elevated.

Cryptocurrency: Crypto trading volumes have dropped globally across all exchanges this year.

Equities: Long-duration stocks underperformed this week.

Food for Thought: Which universities produce the most successful founders?

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 rates near 8% are exerting downward pressure on demand for housing loans.

The latest PMI report from S&P Global signals further easing in US consumer price gains.

Equities: US-listed companies with significant international sales are underperforming as the US dollar rally resumes.

Japan: Dollar-yen is above 150. Will Tokyo intervene?

Emerging Markets: Mexican bond yields are surging.

Commodities: Orange juice prices continue to hit record highs.

Food for Thought: Drivers of the US budget deficit surge:

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: Here is a look at pandemic-era increases in government spending.

The United Kingdom: Industrial orders weakened more than expected in October.

China: Leading indicators point to softer household consumption.

Commodities: Gold is improving relative to bonds, stocks, and commodities.

Energy:  Analysts have been downgrading their forecasts for global natural gas demand.

Equities: US companies now make up 61% of the $60 trillion MSCI All-Country World Index index, a significant increase from their representation of less than 50% a decade ago.

Credit: There is a high level of concentration at the borrower level within the business development company (BDC) universe.

Food for Thought: The most prevalent forms of cybercrime:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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