The Daily Shot Brief – February 11th, 2019



The United States: In recent years, the US has been able to run substantial budget deficits without paying higher costs for lax fiscal policy. Is the “free lunch” over?

Source: Pantheon Macroeconomics

The Eurozone: The ECB is defending its QE program, suggesting that it helped reduce inequality.

Source: @ecb; Read full article


Equities: Futures-based Fed rate hike expectations have diverged from the stock market. Who is right?

Source: @RobinBrooksIIF


Credit: Leveraged loan prices have stabilized below last year’s peak levels.

Source: IHS Markit


Global Developments: Here is a risk-return plot for US and EM assets.

Source: Gavekal ; Read full article

Food for Thought: US federal spending:

Source: Oxford Economics

Edited by Joseph Cohen

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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

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