The Daily Shot® Brief

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The United States: The January report on producer prices surpassed expectations, with the increase fueled by consumer-facing services sectors.

Europe: Sweden’s core inflation for January matched projections, reflecting an ongoing moderation in the pace of price increases.

China: State-owned entities continue to bail out the stock market:

– Domestic ETF flows:

– Beijing-ordered share buybacks:

Asia-Pacific: Japan’s shares keep outperforming.

Equities: Goldman boosted its target for the S&P 500 this year.

Commodities: The cocoa rally is fading.

Food for Thought: Risks most likely to present a crisis on a global scale:

Edited by William Villacis

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Greetings,

 

The United States: Manufacturing output contracted in January, also driven by frigid weather in parts of the country.

Europe: Here is a look at recession risks in Europe.

China: Is China’s equity underperformance versus EM peers finally over?

Equities: Dividend growers have been outperforming the average stock in the S&P 500.

Energy: WTI crude is making another run at the 200-day moving average.

Credit: Smaller banks are more exposed to commercial real estate (2 charts).

Food for Thought: US centenarian population:

Edited by Josh Oldmixon

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Greetings,

 

The Eurozone: The Eurozone’s industrial production surged in December.

The United States: Mortgage applications are holding at multi-year lows.

Japan: The economy unexpectedly slipped into technical recession last quarter, dragged lower by weak domestic demand (consumer spending and business investment).

Equities: As measured by the Cumulative Advance-Decline Line, the breadth of the Nasdaq Composite has remained depressed even as the index surged in recent months.

Emerging Markets: Here is a look at country weights in the MSCI EM Index in 2020 and 2024.

Global Developments: How are various economies performing relative to expectations?

Food for Thought: Nvidia bubble?

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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Greetings,

 

The United States: Leading indicators point to further moderation in rent CPI.

The United Kingdom: Short-term rates reversed some of the gains from the UK employment report and the US CPI data.

Japan: Machine tool orders eased further last month.

Commodities: Shares of lithium miners continue to struggle.

Equities: It was a rough day for small caps as bond yields surged.

Food for Thought: The share of income spent on rent:

Edited by Josh Oldmixon

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Greetings,

 

The United States: The New York Fed’s consumer survey showed stable one-year inflation expectations, while the three-year outlook experienced a significant decline.

The Eurozone: The euro-area GDP is expected to grow 0.5% this year, diverging sharply from the US.

Asia-Pacific: Economic growth is improving in South Korea and Taiwan, which could signal stronger global trade.

Emerging Markets:  India’s inflation eased last month.

Equities: The momentum factor has been seeing robust inflows in recent weeks, …

… boosting outperformance in the US and globally.

Food for Thought: Political openness and economic freedom:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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Greetings,

 

The United States: The market continues to scale back Fed rate cut expectations for 2024.

Japan: USD/JPY is approaching long-term resistance, initially at 152.

Cryptocurrency: This chart shows the largest US dollar stablecoins.

Commodities: Sentiment in the canola market has deteriorated in recent months.

Equities: The S&P 500 closed above 5,000 for the first time, moving deeper into overbought territory.

Credit: Here is a look at last week’s performance data.

Global Developments: More easing ahead for global financial conditions?

Food for Thought: Data center chip spending:

Edited by Josh Oldmixon

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Greetings,

 

The United States: Freezing weather conditions hampered card spending in January.

The Eurozone: Yields are rebounding.

Emerging Markets: Peru cut rates again.

Commodities: Global gold ETFs continued to see outflows.

Equities: Retail investors remain bullish.

Credit: Investment-grade bond fund flows remain robust.

Rates: TLT formed a golden cross.

Food for Thought: Cheaper to rent or buy?

Edited by Josh Oldmixon

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Greetings,

 

The United States: Supply chain pressures are relatively low despite the Suez Canal fiasco.

The Eurozone: It is rare for the ECB to cut rates when stocks have not been declining for several months.

China: China’s disinflationary pressures persist, partly reflecting weak domestic demand. In January, the CPI had its biggest year-over-year decline since the GFC.

Equities: Small-cap underperformance widened in recent days, exacerbated by pressure on smaller banks.

Rates: A record-high 10-year note auction was met with solid demand on Wednesday, sending yields lower.

Commodities: Cocoa futures hit a record high, taking out the 1977 peak.

Global Developments: According to JP Morgan Global Research, 56% of central banks will be easing by the time the Fed starts cutting rates.

Food for Thought: Public pensions investing in China:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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Greetings,

 

The United States: Tight lending standards still signal a slowdown in consumer credit ahead.

Europe: Here is a look at drug overdose rates.

China: China consumes more electricity per person than the EU.

Commodities: Cotton futures have been rallying.

Energy: The US rig count is holding near 500.

Equities: Here is a look at US valuations for the S&P 500, equal-weight, mid-cap, and small-cap indices, relative to their 20-year average.

Credit: High-yield bonds have been outperforming the S&P 500 on a risk-adjusted basis.

Food for Thought: Trust in higher education:

Edited by Josh Oldmixon

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Greetings,

 

The United States: In the housing market, asking and sale prices are at record highs for this time of the year.

China: Stocks jumped after China’s sovereign fund promised to buy more equity ETFs. Beijing’s stock market bailout is in full swing.

The United Kingdom: London’s IPO activity has weakened over the past two years as more British companies decided to list in New York or elsewhere in Europe.

Equities:  In a historical context, the current bull market has shown relatively modest strength.

Cryptocurrency: Crypto funds saw large inflows last week led by newly listed US spot-BTC products.

Credit: A declining number of banks are imposing stricter standards on business loans, yet demand continues to be weak.

Commodities: Physical gold deliveries have trended lower in recent years, possibly because investors and governments have chosen to hoard gold as geopolitical risks increased.

Food for Thought: Expanded seabed claims:

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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