Greetings,
United States: Credit card spending is now down 25% from the same time last year.
The US savings rate increased by the highest percentage in 39 years (see story)
China: China’s restaurant recovery has lost momentum.
Also, Macau gaming revenues are down 97% on a year-over-year basis.
Equities: Companies are suspending dividends, …
… while share repurchase activity has slowed.
Credit: Regional banks have accelerated loan loss provisions.
Rates: The market expects short-term rates to remain near zero for at least three years.
Food for Thought: Business failures during the Spanish Flu:
Edited by Devon Lall
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 support@wsj.com.
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
Subscribe to the Daily Shot Brief
