The Daily Shot Brief – February 28th, 2020



Equities: It took remarkably little time for stocks to correct 10%.

Source: Deutsche Bank Research, @YahooFinance; Read full article


The VIX futures curve:

Source: The Daily Shot


Credit: High-yield fund outflows have accelerated.

Source: @lcdnews


Credit spreads are now much too tight relative to equity implied volatility. Here is VIX vs. investment-grade and high-yield CDX spreads.

Source: @TheTerminal


Rates: The whole TIPS curve (real rates) could soon be in negative territory. Here is the 30yr yield.

Source: The Daily Shot


Commodities: Despite the sell-off in risk assets and falling bond yields, gold is no longer rising.

Source: The Daily Shot


China: Coal usage at power plants remains depressed, suggesting that China is not yet near normalization of economic activity.

Source: @tracyalloway; Read full article


Food for Thought: Where patients likely caught the virus:

Source: @WSJ; Read full article

Edited by Devon Lall

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