Greetings,
United States: The 2-year Treasury yield broke above 1% as the market prices in faster rate hikes ahead.
A 1% increase this year is now fully priced in.
Canada: Will we see a BoC hike next week? The market is pricing in a 70%+ probability of such an outcome.
The BoC business outlook indicator hit a new high last quarter.
China: COVID clusters continue to pop up, …
… which is a drag on consumer-facing businesses.
Energy: Europe has been able to replace lost natural gas imports from Russia with LNG.
Rates: The market expects the Fed to be done hiking rates by the end of next year. Many economists disagree.
Food for Thought: Russia’s vs. Ukraine’s military forces:
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
