Greetings,
The United States: For now, there are no signs of acceleration in labor costs.
Here is Goldman’s wage growth tracker.
China: The Capital Economics China GDP tracker is moving lower again.
The Eurozone: The unemployment rate varies drastically across the Eurozone.
Equity Markets: Fund managers have become extremely overweight US equities.
Global Developments: In the past, the gap between consumer confidence and spending closed relatively quickly.
Emerging Markets: EM commodity exporters could be in trouble.
Food for Thought: The betting market’s probability of President Trump getting impeached (many analysts think the market is overreacting):
The next Daily Shot Brief will be out on Monday (August 27th).
We will not be publishing the Daily Shot Brief on the following days:
• August 29th
• August 30th
• August 31st
• September 3rd
• On August 28th, we will have an abbreviated Daily Shot Brief focusing primarily on the Food for Thought section.
Have a great weekend!
Edited by Joseph Cohen
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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen), Ycharts.com, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.
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