Greetings,
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.
We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
