The United States: There are still two job openings per every unemployed worker in the US. The Fed would like to see this ratio come down meaningfully. Until then, the central bank will continue to pressure the demand side of the economy.
The market now expects the Fed to increase rates by another 140 bps before the end of the year.
The Eurozone: Germany’s inflation hit a multi-decade high in August.
Energy: European natural gas futures declined sharply on improved inventories, a regulatory push to lower prices, and profit taking.
Equities: The S&P 500 is down 5% over the past three days.
Credit: The share of developed market corporate bonds in distress (rated CCC or below) is at historical lows.
Global Developments: USD remains the dominant currency in global reserves, but its share has been trending lower in recent years.
Food for Thought: Here’s a look at the world’s top fertilizer exporters.
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com