Greetings,
The United States: Here is the ratio of cyclical-to-defensive stocks versus the ISM manufacturing PMI.
Full-time workers’ real wage growth has turned positive.
The Eurozone: The composite PMI climbed above 50, signaling a return to growth.
Australia: Inflation remains hot, with the Q4 report surprising to the upside. The Aussie dollar and bond yields jumped on the report.
China: The reopening-driven economic rebound has been unusually quick.
Commodities: Uranium supply has been insufficient to meet annual reactor requirements. The deficit is expected to continue over the coming years, which could raise the price of uranium.
Equities: US equities have been the most effective hedge against inflation relative to other asset classes over any period between one and 20 years. According to Goldman, commodities have not been a good hedge, based on their risk/return profile in long-term portfolios.
Food for Thought: Here’s a look at the use of ChatGPT in the workplace.
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
