Greetings,
The United States: Both soft- and hard-data US economic surprise indices have declined in recent months.
Equity Markets: Below we have the recent S&P 500 revenue revisions vs. the 5-year range (by sector).
China: Slowing credit expansion is one of the reasons economists are forecasting a weaker GDP growth.
Energy Markets: US pipeline infrastructure is insufficient given the level of oil production.
Emerging Markets: Venezuela’s oil output is tumbling.
Eurozone: The ECB continues to buy corporate bonds. Can it exit the program without disrupting Europe’s credit markets?
Canada: Canada’s output gap has been closed.
Credit: Investors remain concerned about corporate balance sheets.
Food for Thought: Which party should control Congress and why?
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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