The Daily Shot Brief – December 6th, 2017



The United States: The number of first-time homebuyers keeps climbing.

Source: Genworth Mortgage Insurance Corporation; Read full article

How do these new buyers come up with a 20% down payment amid surging home prices? The answer is that relatively few of them do. Instead, first-time homebuyers tap FHA, VA, and USDA loans. They also increasingly rely on mortgage insurance (MI). “Low down payment” is defined as LTV of 80 percent or higher.

Source: Genworth Mortgage Insurance Corporation; Read full article

The good news is that the mortgage insurance market is gradually reducing the government’s share of the first-time homebuyer market.

Source: Genworth Mortgage Insurance Corporation; Read full article


China: This chart shows the yearly changes in loan balances to nonfinancial corporations in China. Tighter monetary conditions have not shown up in this sector.

Source: Moody’s Investors Service


The Eurozone: French business activity has accelerated.

Source: @markiteconomics; Read full article


Equity Markets: Here is why analysts don’t think there is a bubble in tech shares.

Source: Credit Suisse


Emerging Markets: India’s economy appears to be struggling as the service sector shifted into contraction again.

Source: @markiteconomics; Read full article


Bitcoin: Nobody wants Federal Reserve notes.

Source: @TheStalwart


Energy Markets: Crude oil is expected to be in deficit for much of next year.

Source: Scotiabank Economics, h/t Paul Menestrier


Food for Thought: Older workers in OECD countries.

Source: @OECD

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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