Greetings,
The United States: The ISM Manufacturing PMI report was surprisingly bad, with key sub-indices coming in below market expectations (PMI below 50 means contraction).
–Backlog of orders:
-There are no signs of price pressures.
The Eurozone: Depositors appear to be less risk-averse as cash moves out of Germany.
Europe: Have European earnings expectations reached a turning point?
China: Stock market volatility has eased in recent months.
Rates: Top banks have been less dominant in the repo market.
As more leveraged participants moved into the Treasury market, the use of repo financing has increased.
Food for Thought: Each state’s financial health:
Edited by Devon Lall
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to support@wsj.com.
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
Subscribe to the Daily Shot Brief