The United States: Millennials are buying homes later in life, but they are starting to embrace homeownership. However, tight housing supplies and declining affordability could slow this trend.
The Eurozone: Despite rapidly improving economic conditions, Eurosceptic parties in Italy are gaining momentum.
Rates: The last three rate hikes were fully priced in before the FOMC meetings. The Fed doesn’t like surprises.
Equity Markets: Demand for S&P 500 ETF (SPY) call options increased significantly in the past couple of days.
This chart shows the SPY 1-month volatility skew – now (orange) and a week ago (green). Call option buying is clearly visible on the right.
Bitcoin: Here is how Bitcoin compares to other recent financial bubbles.
Emerging Markets: Moody’s upgraded Argentina’s sovereign debt.
Credit: This table shows which pharmaceutical companies are at risk for opioid-related litigation.
Food for Thought: What do Millennials do while watching TV?
Have a great weekend!
Edited by Joseph N 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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