The Daily Shot Brief – January 26th, 2021

Greetings,

 

Equities: Encouraged by the Reddit group r/wallstreetbets (and other online discussion boards), retail traders caused a massive short-squeeze in GameStop shares. The practice of targeted short-selling appears to have been permanently altered.

Source: @tracyalloway, @business Read full article

 

Credit: Supported by the Fed’s purchases, agency MBS debt continues to rally.

Source: @markets Read full article

 

MBS spreads have tumbled going into the year-end, pushing mortgage rates lower.

Source: Bloomberg

 

Commodities: Fund managers have been boosting allocations to commodities.

Source: BofA Global Research

 

Cryptocurrencies: There are over 120,000 Bitcoin option contracts (collectively worth $4 billion) set to expire on Friday. This could lead to significant volatility as January draws to a close.

Source: CoinDesk

 

China: China’s short-term rates spiked as liquidity tightened.

Source: Reuters Read full article
Source: Daily Shot

 

Food For Thought: The most beneficial place to start a company:

Source: @Initialized Read full article

Edited by Devon Lall

Contact the Daily Shot Editor: Editor@DailyShotLetter.com


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