Greetings,
The United States: In the near-term, the Atlanta Fed’s GDPNow model is projecting 5.4% for Q1. Right.
The Eurozone: The Eurozone manufacturing activity remains near multi-year highs. Price pressures are picking up (which is giving the euro a boost). Is the ECB paying attention?
Equity Markets: Sales growth at restaurants continues to slow. However, margins unexpectedly jumped last year. The dollar weakness is likely to hurt margins going forward as food prices rise.
Credit: Here are the latest trends in green bond issuance.
China: Watch out for the GDP figures being “cooked” if the economy slows. That’s what happened in 2015.
Energy Markets:The monthly oil production report from the Department of Energy placed the November US crude oil output at over 10 million barrels per day. This pace of production came much earlier than expected.
Here is the breakdown by source, with all the growth coming from shale (“tight formation”).
Cryptocurrencies: Bitcoin is trading below $9k. Sometimes technical analysis just works.
Food for Thought: Apps usage in select countries.
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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