Greetings,
The United States: Is the high job quits rate telling us that wage growth is about to accelerate (better give your workers a raise or they will quit)?
Credit: Student loan delinquencies remain elevated.
China: The stock market continues to climb.
Bitcoin: The lower part of the next chart shows the drawdowns in Bitcoin vs. the stock market.
Equity Markets: The stock market capitalization as a percentage of the GDP keeps climbing.
Europe: The Swiss central bank reported a massive gain on its foreign investment portfolio. It holds US and European stocks and bonds and hundreds of billions worth of euros. The gold rally was also helpful.
Food for Thought: Stock ownership by income percentile.
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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