The Daily Shot Brief – August 3rd, 2020


United States: The Chicago PMI rebounded sharply last month, suggesting that Midwest manufacturing activity is back in growth mode. We should see substantial gains in the ISM manufacturing index today.

Source: The Daily Shot

The US velocity of money has collapsed. The rapidly rising money supply has been generating far less economic growth (less GDP per unit of new credit).

Source: The Daily Shot


China: The renminbi continues to climb, …

Source: The Daily Shot

… helped by the US-China rate differential (2 charts).

Source: The Daily Shot
Source: ANZ Research


Energy: Cushing, OK oil inventories are now below last year’s levels.

Source: CME Group, Read full article


Equities: This chart shows the tech mega-caps’ price/sales ratio vs. revenue growth.

Source: @jessefelder


Credit: The number of potential fallen angels spiked in the second quarter.

Source: Moody’s Investors Service


Food For Thought: Trump/Biden TV ad spending:

Source: @WSJ Read full article

Edited by Daniel Moskovits

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