The Daily Shot Brief – April 12th, 2019



The United States: Morgan Stanley’s business conditions index moved lower in response to softer business expectations.

Source: Morgan Stanley Research


The Eurozone: This is not a fair comparison because we are looking at bonds in two different currencies. Nonetheless, it’s worth noting that the 5-year Greek government bond yield is now lower than the US equivalent.

Source: The Daily Shot


Equities: The passive/active fund flow divergence persists.

Source: JPMorgan, @jessefelder; Read full article


China: Pantheon Macroeconomics expects inflation to rise, driven by food prices.

Source: Pantheon Macroeconomics


Credit: Leveraged loan flows are correlated with Treasury yields.

Source: Credit Suisse



Food for Thought:  $100 vs. $1 notes in circulation:

Source: Deutsche Bank Research


Edited by Joseph Cohen

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

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