Greetings,
The United States: Economists are convinced that the Fed’s preferred inflation measure, the core PCE, will reach the 2% target this year and move beyond that level over the next couple of years.
Equity Markets: The US market typically trades sideways ahead of the mid-term elections.
The United Kingdom: According to the latest forecast, the UK’s real wages will not hit the previous peak until 2025.
Energy Markets: Venezuela’s oil production cuts have exceeded those of Saudi Arabia. Except in Venezuela’s case, there is nothing “voluntary” about these reductions.
Emerging Markets: The recent decline in the ruble is likely to boost inflation. Russia’s central bank’s rate cuts are probably on hold for now.
Eurozone: Will the ECB end it’s QE program by the end of the year?
Rates: Oil prices have been driving inflation expectations higher.
Credit: Leveraged loan issuance has been dominated by lower-rated debt in recent years.
Cryptocurrency: The search frequency for “Bitcoin” continues to collapse.
Food for Thought: The number of wars European nations have been involved in since WW2.
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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