Greetings,
The United States: The ISM Manufacturing PMI finally returned to growth in March, topping expectations.
![](https://thedailyshot.com/wp-content/uploads/US-ISM2404020545.png)
![](https://thedailyshot.com/wp-content/uploads/US-ISM-ST2404020545.png)
This year’s gains in the Citi Economic Surprise Index have been driven by soft data (surveys).
![](https://thedailyshot.com/wp-content/uploads/US-AAA-Citi2404020545.png)
The Eurozone: Deutsche Bank expects the ECB policy rate to drop to 2% by mid-2025.
![](https://thedailyshot.com/wp-content/uploads/EZ-Policy-rate2404020545.png)
Japan: Investors continue channeling capital into Japan-focused equity funds.
![](https://thedailyshot.com/wp-content/uploads/JP-Flows2404020545.png)
Emerging Markets: This chart shows the rate differentials (vs. USD) and implied volatility for select EM currencies.
![](https://thedailyshot.com/wp-content/uploads/EM-rate-diff-v-vol2404020545.png)
Commodities: Chicago cattle futures are selling off.
![](https://thedailyshot.com/wp-content/uploads/CO-cattle2404020545.png)
![](https://thedailyshot.com/wp-content/uploads/CO-cattle-ST2404020545.png)
Credit: The single-B – BB corporate spreads continue to tighten, singling increased risk appetite.
![](https://thedailyshot.com/wp-content/uploads/CR-B-BB2404020545.png)
Food for Thought: US households’ financial asset allocation:
![](https://thedailyshot.com/wp-content/uploads/VTC-US-householdsQ-financial-assets-allocation2404020545.png)
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com