The United States: The US total labor income (defined below) is a leading indicator for consumer spending, and it accelerated last month.
Equity Markets: Below is a scatter plot of PE ratios vs. Treasury yields.
The United Kingdom: This chart shows the decline in EU citizens migrating to the UK.
Energy Markets: The rig count recovery has been much slower than in previous cycles, but the new rigs are far more efficient.
Emerging Markets: Argentina’s inflation is expected to (gradually) moderate this year.
Eurozone: The Eurozone’s economy is heavily dependent on exports. A global slowdown or a trade war could be devastating.
Rates: The 2005 CBO economic forecast was surprisingly similar to the latest one except for the 10yr Treasury yield.
China: This pie-chart shows the breakdown of China’s household debt.
Credit: After hedging the currency risk, the yield on US investment-grade debt is below that of euro-denominated bonds.
Food for Thought: Millennials have fully recovered from the financial crisis.
Edited by Joseph N Cohen
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to email@example.com.
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.
We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/
Contact the Daily Shot Editor: Editor@DailyShotLetter.com