Greetings,
The United States: The World Economics SMI report signals an acceleration in US business activity this month. Price pressures appear to be easing.
China: Beijing unexpectedly instructed the banks to cut the benchmark mortgage rates by 25 bps.
Emerging Markets: EM real policy rates are still substantially higher than developed markets. There is much greater room for further EM rate cuts.
Equities: The S&P 500 is increasingly tech-heavy.
Most S&P 500 sector valuations are running above their 25-year averages.
Rates: BofA’s private clients are getting back into TIPS.
Food for Thought: Issues that are underreported by the national media:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com