Greetings,
The United States: Will the new tax law keep some foreign companies from expanding their US operations?
Equity Markets: It’s worth noting that at a forward P/E ratio of just over 17x for the S&P 500, valuations do not appear to be stretched.
Energy Markets: This chart shows the number of “drilled but uncompleted” (DUC) wells in the US. More drilling ahead outside of the Permian Basin?
The Eurozone: Italy is unlikely to form a majority government in the upcoming elections.
Cryptocurrency: As promised, Venezuela is doing an ICO of its new cryptocurrency, the petro. It will be interesting to see where it trades relative to the bolivar.
Credit: The percentage of stressed loans on the balance sheets of BDCs has risen lately.
Emerging Markets: What are the possible outcomes for Mexico with respect to NAFTA?
Mexico’s economy is highly exposed to NAFTA-based exports.
Food for Thought: The Google search frequency for the phrase “gun purchase” over time and by state.
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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