Greetings,
The United States: Treasury yields declined on the lower-than-expected March ADP private payrolls index and ISM services PMI.
The Atlanta Fed’s GDPNow estimate was adjusted downward again.
Equities: The disconnect between earnings and GDP projections remains a concern.
Rates: The 10-year Treasury yield is now well below the 200-day moving average.
The United Kingdom: GBP/USD has underperformed real rate differentials.
China: China’s services PMI (from S&P Global) was remarkably strong last month.
Commodities: Sugar futures have been surging, driven by supply jitters from the lower-than-expected output in some countries.
Food for Thought: Here is a look at Walmart’s e-commerce business:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
