The Daily Shot Brief – April 10th, 2018

Greetings,

 

 

The United States: Is the trade deficit with China lower than it appears? The charts below show what happens when services, trade with Hong Kong, and the value-add import adjustments are incorporated.

Source: Mark Doms, Nomura Securities

 

Equity Markets: We continue to see investor sentiment souring rapidly.

Source: Piper Jaffray

Here is the retail investor sentiment index from TD Ameritrade. This “return to reality” is quite positive for the market.

Source: TD Ameritrade

 

Credit: High-yield ETFs saw record outflows in the first quarter.

Source: @EricBalchunas

 

China: The country’s smartphone sales are slowing.

Source: WSJ.com, h/t Paul Menestrier; Read full article

 

Eurozone: The European sector PMI report shows a broad slowdown.

Source: IHS Markit; Read full article

 

Commodities: This chart shows the top US agricultural export destinations over time.

Source: Moody’s Investors Service

 

Rates: The US “soft-data” economic surprise index suggests that Treasury yields should be lower.

Source: Piper Jaffray

 


Food for Thought: Gasoline taxes by state.

Source: @howmuch_net ; Read full article

 

 

Edited by Joseph N Cohen


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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen), Ycharts.com, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

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