Greetings,
Administrative Update
Please note that the Daily Shot will not be published this Friday, April 10th.
United States: The US lost about 700k jobs (Morgan Stanley’s forecast was spot on).
Given the initial unemployment claims figures, the March report was just the tip of the iceberg.
Commodities: Funds have dramatically shortened their exposure to commodities.
Equities: This chart shows the 2-month changes in asset managers’ S&P 500 futures positioning.
Credit: Rating downgrades are accelerating (see definition of fallen angels).
Global Developments: The Fed’s securities holdings could double this year.
The rapid monetary expansion could put substantial pressure on the US dollar.
Food for Thought: Local TV viewership:
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