The Daily Shot Brief – February 22nd, 2021



Rates: The global bond rout is picking up momentum. Most bond yields are still below 2019 levels but are rising quickly.

The US:

Source: The Daily Shot


Source: The Daily Shot

The euro 10yr swap rate moved into positive territory for the first time since April.

Source: The Daily Shot


Credit: Higher inflation tends to be helpful for leveraged companies (pushing up prices of commodities, real property, etc.). This chart shows the spread between Baa (BBB) and Aaa (AAA) corporate bonds vs. market-based inflation expectations (breakeven).

Source: Kevin Daley, Robins School of Business, University of Richmond


Energy: Alternative energy stocks have significantly outperformed traditional energy shares over the past year.

Source: Alpine Macro


Equities: Global dividend yields are looking less attractive relative to Treasury yields.

Source: @DavidInglesTV


Cryptocurrency: Financial firms offering crypto services have outperformed.

Source: @WSJ Read full article


Food For Thought: Uninhabited parts of the US (green):

Source: maps by nik, Smithsonian Magazine Read full article

Edited by Daniel Moskovits

Contact the Daily Shot Editor:

If you would like to subscribe to the full-length Daily Shot (see example), please register here.

Leave a Reply