Greetings,
The United States: The NY Fed’s Empire Manufacturing Index, the first regional factory report of the month, was remarkably strong.
Rents are down on a year-over-year basis for the first time since the COVID shock, according to Redfin.
Equities: During recent recessions, the earnings drawdown of US growth stocks has been less severe than value stocks.
China: China’s Q1 GDP growth was slightly higher than expected, boosted by a surge in consumption.
Asia – Pacific: Investors see a sharp divergence between Asian and global economic growth.
Commodities: CME live cattle futures hit a record high due to a tighter cash market.
Food for Thought: Lastly, here is R&D spending by the US vs. China:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
