Greetings,
United States: Bank of America now sees the GDP contracting by over 10% for the whole year.
Eurozone: The number of new infections in Italy is gradually trending lower.
China: The PMI report from Markit shows China’s service-sector business activity still in decline (PMI < 50), but the rate of contraction has moderated.
The labor market faces substantial headwinds.
Equities: Goldman’s base case is a 33% decline in the S&P 500 earnings-per-share this year.
Rates: The Fed’s balance sheet continues to climb at an unprecedented rate as the central bank buys Treasuries and agency MBS.
Food for Thought: COVID-19 patients hospitalized:
Edited by Daniel Moskovits
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