Greetings,
The United States: Economists are predicting a further decline in the household savings rate as stocks and home prices boost the wealth effect. It’s worth noting that many Americans who are unable to save are not the ones who benefit from the wealth effect.
The Eurozone: Exports were a big component of the GDP growth last quarter.
Equity Markets: 51.6% of Americans think that the market will be higher a year from now. It indicates the most bullish sentiment in decades.
Credit: Private credit fundraising hit a record in 2017. Here is the breakdown (“MM CLO” = middle market collateralized loan obligations).
China: China is now the largest crude oil importer.
Energy Markets: US crude oil output is rapidly approaching 10 million barrels per day, putting further pressure on OPEC.
Cryptocurrencies: Bitcoin app downloads climbed with the cryptocurrency’s price.
Food for Thought: Suicide rates around the world.
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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