Greetings,
The United States: The ISM Manufacturing PMI finally returned to growth in March, topping expectations.
This year’s gains in the Citi Economic Surprise Index have been driven by soft data (surveys).
The Eurozone: Deutsche Bank expects the ECB policy rate to drop to 2% by mid-2025.
Japan: Investors continue channeling capital into Japan-focused equity funds.
Emerging Markets: This chart shows the rate differentials (vs. USD) and implied volatility for select EM currencies.
Commodities: Chicago cattle futures are selling off.
Credit: The single-B – BB corporate spreads continue to tighten, singling increased risk appetite.
Food for Thought: US households’ financial asset allocation:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
