The United States: Here is an estimate of job losses by state if the US withdraws from NAFTA.
The Eurozone: The Eurozone service sector activity has accelerated in January. Here is the composite PMI (fastest expansion in over a decade).
Italy’s business output has been especially strong.
Equity Markets: Over the long run, bond selloffs typically don’t coincide with corrections in the equity market.
Alternatives: How much do sovereign wealth funds allocate to private equity?
The United Kingdom: S&P Global Ratings says that the EU will take a tough stance in the upcoming Brexit negotiations because the EU is in “self-preservation” mode.
• S&P Global Ratings: – The EU’s lenient stance towards Greece was a rational approach to ensure its own survival.
• A lenient Brexit deal for the U.K., however, could lead to other member states following suit in a domino effect, which the EU wants to avoid.
• The U.K. risks further adverse economic, financial, and ratings outcomes if it ignores the EU’s rationale of self-preservation.
Global Developments: Here is manufacturing employment as a percent of total employment for select advanced economies.
Cryptocurrencies: Bitcoin is approaching $6k as the crypto-selloff continues. Bubbles are bursting all over the place.
Food for Thought: Which brands benefitted the most from this weekend’s Super Bowl?
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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