The Daily Shot Brief – January 31st, 2018

Greetings,

 

 

The United States: Will incomes rise sufficiently to justify the brisk consumer spending? Will it happen before higher interest rates make consumer debt much more expensive?

Source: @GregDaco

Separately, consumer spending on pleasure boats, aircraft, and other recreational vehicles is rising at the fastest pace since 2005. Is it the wealth effect?

Source: @boes_

 

The Eurozone: Concerns over Italy’s potential exit from the euro remain elevated.

Source: @Schuldensuehner

Some view the situation especially troubling given how much Italian debt the ECB has purchased in recent years.

Source: Citi, @Schuldensuehner

However, are these concerns completely overblown? After all, a majority of Italians want to see a further European integration.

Source: @OxfordEconomics; Read full article

 

Equity Markets: The 2yr Treasury is now returning meaningfully more than the S&P 500 dividend yield.

Source: @acemaxx, @mccormickliz; Read full article

 

Credit: Last year’s high-yield issuance was dominated by energy/commodity sectors.

Source: @tracyalloway

 

China: Based on the GDP deflator (a broad measure of price gains), China’s real rates are still relatively low.

Source: @acemaxx, @MorganStanley

 

Energy Markets: Have the weekly Department of Energy oil production estimates been overstating the US oil output growth?

Source: Deutsche Bank, @tracyalloway

 

Cryptocurrencies: The Bitcoin market is highly concentrated, with a few accounts holding enormous amounts of the cryptocurrency.

 

Source: @gadfly; Read full article

 


Food for Thought: The shifting media landscape.

Source: @PlanMaestro, @libertyrpf

 

 

Edited by Joseph N Cohen


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