The Daily Shot Brief – August 28th, 2020



United States: For the first time in years, the Fed announced a new approach to inflation targeting. The central bank will now focus on price levels rather than the rate of change. Moreover, the Fed will put a higher emphasis on the health of the labor market.

Source: CNBC Read full article

The markets reacted by pushing longer-term Treasury yields higher in anticipation of rising inflation ahead.

Source: The Daily Shot

Given the Fed’s new tools on inflation, the probability of the central bank taking rates below zero has diminished. The market-implied fed funds rate trajectory is now entirely in positive territory.

Source: The Daily Shot


Eurozone: The euro-area broad money supply year-over-year growth exceeded 10% last month.

Source: The Daily Shot

Household liquidity spiked. Will it translate into more spending?

Source: Pantheon Macroeconomics


China: The nation’s business outlook continues to improve.

Source: @markets Read full article


Commodities: Speculative bets on gold have moderated.

Source: @ISABELNET_SA, @jpmorgan


Equities: Will we see industrials begin to outperform as factory activity (ISM) rebounds?

Source: Hugo Ste-Marie, Portfolio & Quantitative Strategy Global Equity Research, Scotia Capital


Food For Thought: Who will get vaccinated?

Source: @axios Read full article

Edited by Daniel Moskovits

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