The Daily Shot Brief – December 11th, 2017



The United States: The University of Michigan consumer sentiment was below consensus but remains elevated.

Source: The Daily Shot

Americans are extremely positive about their current situation but are less enthusiastic about the future. This chart shows the spread between the U. Michigan indices of current conditions and economic expectations.

Source: The Daily Shot


Rates: This chart shows that the recent yield increases were primarily driven by real rates, while inflation expectations remain anchored.

Source: FTN Financial


The Eurozone: Hedge funds are maintaining substantial net-long euro positions which makes the currency vulnerable to a downside correction.



Canada: Non-oil trade deficit remains elevated.

Source: BofAML


Emerging Markets: Merrill Lynch forecasts Brazil’s GDP growth to hit 3% next year.

Source: BofAML


Japan: Merrill Lynch expects Japan’s economic growth to slow significantly in a couple of years.

Source: BofAML


Energy Markets: Hedge funds’ net-long position in NYMEX crude oil remains at record highs.

Source: The Daily Shot


Bitcoin: Bitcoin’s capitalization remains relatively small when compared to other major markets.

Source: Capital Economics


Food for Thought: Islamic State’s revenues.

Source: @wef; Read full article

Edited by Joseph N Cohen

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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

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