The Daily Shot Brief – July 27th, 2020


Commodities: Spot gold broke through the 2011 high this morning.

Source: The Daily Shot

Here are some of the drivers of the latest rally.

First, real rates are moving deeper into negative territory, supporting gold.

Source: @TaviCosta

The recent dollar weakness is another factor behind the rally.



Energy: The US rig count rose last week for the first time since March.

Source: The Daily Shot


Equities: The Citi sentiment index is holding in “euphoria” territory.

Source: @hmeisler


Rates: Treasury implied volatility index (MOVE) hit a record low. Complacency is setting in again.

Source: The Daily Shot


Eurozone: The Citi Economic Surprise index hit the highest level in nearly a decade.

Source: The Daily Shot


Food For Thought: Relative changes in dissatisfaction with democracy (since 1995):

Source: @financialtimes; Read full article

Edited by Daniel Moskovits

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