The Daily Shot® Brief

Greetings,

The United States: Here are the March changes by sector.

The United Kingdom: What percentage of the population lives in poor-quality housing?

The Eurozone: Germany’s wholesale price inflation is crashing.

Equities: Traders jumped into shares of large banks on Friday while dumping regional/small banks.

Commodities: Funds have been boosting their bets against US wheat futures amid ample global supplies.

Rates: Rates market implied vol has closed most of the gap with equities.

Food for Thought: Homeless rates across the US:

Edited by Josh Oldmixon

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Greetings,

The United States: The trade services PPI saw another sharp decline, pointing to weaker profit margins.

Equities: This chart shows corporate guidance announcement trends in select sectors.

Energy: Here is each country’s production relative to quota.

The United Kingdom: The monthly GDP estimate was flat in February (and has been roughly flat for some time).

Emerging Markets: The Turkish lira keeps drifting lower.

Credit: The Fed’s emergency financing for banks declined again in recent days.

Food for Thought: Bank failures in the US:

Edited by Josh Oldmixon

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Greetings,

The United States: Here is the composition of the “supercore” CPI, which is monitored closely by the FOMC.

Equities: The number of stocks that set new highs has declined on each successive rally this year.

Energy: US oil inventories unexpectedly increased last week, driven in part by more SPR releases.

Asia – Pacific: Foreigners jumped into Japanese equities in recent days.

Emerging Markets: India’s inflation dipped back inside the RBI’s target range.

Cryptocurrency: Crypto inflows turned net positive for the year, although volumes are still low.

Food for Thought: Here is willingness to trust AI systems by country:

Edited by William Villacis

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Greetings,

The United States: Sales expectations remain depressed.

The Eurozone: The Eurozone Sentix investor sentiment indicator improved this month.

Credit: This chart shows retail deposits, by bank.

Energy: Shares of oil & gas services firms have been underperforming.

China: The money supply growth slowed.

Global Developments: This chart shows global equity valuations relative to the historical average and range.

Food for Thought: Central banks’ gold purchases:

Edited by Josh Oldmixon

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Greetings,

The United States: With used car prices rising again, Nomura expects the March core goods CPI to climb.

The Eurozone: Economic activity in Spain and Italy has outperformed the rest of the euro area.

Credit: US bankruptcies increased sharply this year.

Energy: Brent crude oil ETN saw substantial outflows.

China: The CPI report surprised to the downside.

Cryptocurrency: The total crypto market cap returned above $1 trillion last month.

Food for Thought: To conclude, here is the municipal debt per capita of major US cities:

Edited by William Villacis

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Greetings,

The United States: BofA’s Regime Indicator suggests that the economy has entered a downturn.

Credit: US bank loan balances declined again at the end of last month.

MBS balances plummeted.

Equities: Cyclical stocks’ relative performance has diverged from the ISM PMI (not pricing in the downturn).

Emerging Markets: Pakistan’s international bonds remain under pressure amid uncertainties around IMF funding and political instability.

Global Developments: China’s credit expansion tends to be a headwind for the US dollar.

Supply chain pressures continue to ease.

Food for Thought: Lastly, here are price trends for monkeys in laboratory research:

Edited by William Villacis

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CreditGreetings,

The United States: The NFIB small business hiring plans index declined sharply in March.

Equities: The market has not fully priced in recession risks.

Credit: The Fed’s emergency facility balances continue to rise.

Europe: Last month, Germany’s construction PMI fell further into contraction territory.

Canada: Economists have been persistently underestimating Canada’s job growth.

Energy: Oil market implied volatility continues to ease.

Food for Thought: How much prime residential property can $1 million buy?

Edited by Josh Oldmixon

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Greetings,

The United States: Treasury yields declined on the lower-than-expected March ADP private payrolls index and ISM services PMI.

The Atlanta Fed’s GDPNow estimate was adjusted downward again.

Equities: The disconnect between earnings and GDP projections remains a concern.

Rates: The 10-year Treasury yield is now well below the 200-day moving average.

The United Kingdom: GBP/USD has underperformed real rate differentials.

China: China’s services PMI (from S&P Global) was remarkably strong last month.

Commodities: Sugar futures have been surging, driven by supply jitters from the lower-than-expected output in some countries.

Food for Thought: Here is a look at Walmart’s e-commerce business:

Edited by William Villacis

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Greetings,

The United States: Job openings declined more than expected in February.

The Eurozone: Wage growth and CPI are now higher in the Eurozone versus the US.

Equities: Bank shares continue to struggle.

Credit: BofA’s private clients have also been getting out of munis.

Commodities: Palladium’s underperformance widened further as platinum prices jumped.

Emerging Markets: Mexican vehicle sales are rebounding.

Food for Thought: Companies discussing AI:

Edited by Josh Oldmixon

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Greetings,

The United States: The ISM PMI report indicated a faster drop in US manufacturing activity in March.

Global central banks’ anticipated policy tightening points to further declines in the ISM PMI.

Equities: How do stocks perform in different ISM Manufacturing PMI regimes?

Credit: Loan balances at US banks declined last week as companies paid down their revolving debt.

The United Kingdom: Among major economies besides Switzerland, UK banks have the highest total asset-to-GDP ratio.

Emerging Markets: Turkey’s inflation has peaked.

Cryptocurrency: Dogecoin rallied after its dog logo appeared on Twitter’s main page.

Food for Thought: Lastly, here are the biggest beneficiaries of NASA’s budget.

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

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