The United States: The spread between job gains for workers vs. managers (especially in cyclical sectors) declined last month. If the trend continues, it would indicate that we are in the late phase of the economic cycle.
China: Are capital outflows picking up again?
The Eurozone: Central banks are increasing their allocations to the euro (at the expense of the dollar).
Credit: Private-equity-owned companies have “top heavy” balance sheets, with leveraged loans forming a greater portion of the capital structure.
Emerging Markets: The Philippine trade deficit hits a new record.
Global Developments: Bank stocks are struggling around the world.
Food for Thought: Mobility within the US continues to decline.
Edited by Joseph Cohen
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 firstname.lastname@example.org.
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