The Daily Shot Brief – February 4th, 2022

Greetings,   Eurozone: Faced with an unprecedented surge in prices, the ECB is changing direction. Christine Lagarde acknowledged that “inflation is likely to remain elevated for longer than previously expected …” For months now, the central bank has been surprised by the strength of euro-area inflation reports. “Compared with our expectations in December, risks to the …

The Daily Shot Brief – February 3rd, 2022

Greetings,   United States: Mortgage applications remain very strong despite higher rates.   Eurozone: The euro-area inflation report was a shocker, with the CPI climbing above 5% for the first time. Energy was the biggest driver of inflation, but the core CPI (2nd panel) surprised to the upside as well.   Cryptocurrency: The bitcoin downtrend …

The Daily Shot Brief – February 2nd, 2022

Greetings,   United States: Growth in US factory activity moderated some more in January. The ISM PMI index was roughly in line with expectations.   United Kingdom: The UK’s biggest container port has been very congested.   China: Below is China’s power generation by energy source.   Commodities: Bloomberg’s agriculture index continues to surge.   …

The Daily Shot Brief – February 1st, 2022

Greetings,   United States: Manufacturers’ backlogs remain massive, suggesting that factories will keep busy in the months ahead.   The divergence between orders and output indicates that manufacturers haven’t been able to keep up.   Eurozone: As the TLTRO program ends, the ECB may exempt more excess reserves from the negative deposit rate.   China: …