United States: The market is still doubting the FOMC’s dot plot. Shorter and intermediate-maturity Treasury yields declined and the curve steepened.
Emerging Markets: The Turkish central bank cut rates again, sending the lira past 16 to the dollar. Is the easing cycle over?
Equities: Investors have been rotating out of cyclical stocks into defensives.
Commodities: Energy, base and battery metals have significantly outperformed the commodity complex so far this year.
Global Developments: Risk-taking has been supported by extraordinarily accommodative monetary conditions.
Food for Thought: Production costs of cultivated meat:
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com