The Daily Shot Brief – August 2nd, 2022

Greetings,   The United States: To begin, construction spending unexpectedly declined in June, driven by weakness in residential investment.   Looking at the yield curve, the 10-year – 3-month portion is about to invert. Some economists prefer this metric as a leading indicator of economic activity.   The Eurozone: The updated PMI report showed factory activity …

The Daily Shot Brief – August 1st, 2022

Greetings,   The United States: Consumer spending growth is below the pre-COVID trend but is not crashing. Households continue to spend despite deteriorating sentiment.   Asia-Pacific: Taiwanese and South Korean equity markets are pricing in a deep slump in global chip sales.   China: US-listed Chinese shares are struggling.   Cryptocurrency: July was a strong month for cryptos, …

The Daily Shot Brief – July 27th, 2022

Greetings,   The United States: Confidence among high-income Americans is declining rapidly, which could impact spending. New home sales dipped below 2016 levels last month and are now about 20% below the June 2021 volume.   The Eurozone: Bond spreads are widening despite the ECB’s new framework to fight defragmentation.   Commodities: Commodity ETFs have been …

The Daily Shot Brief – July 25th, 2022

Greetings,   The United States: The S&P Global Composite PMI moved into contraction territory this month (PMI < 50), signaling a pullback in business activity. Liquidity has been decreasing as the Fed reverses quantitative easing. It’s a headwind for economic growth.   China: Property shares have stabilized as Beijing plans a massive bailout.   Emerging Markets: The …