The Daily Shot Brief – July 7th, 2020



United States: The ISM non-manufacturing report showed business activity returning to growth last month (PMI > 50). The headline index topped economists’ forecasts.

Source: The Daily Shot
Source: The Daily Shot

Forecasters have been surprised by the speed of the US economic rebound. Here is the Citi Economic Surprise Index (includes the ISM non-manufacturing report). However, the recovery has been losing momentum over the past couple of weeks.

Source: The Daily Shot


Eurozone: Investor confidence remains soft.

Source: The Daily Shot


China: China’s equity funds saw significant outflows ahead of the rally.

Source: Goldman Sachs


Equities: The S&P 500 is extremely concentrated.



Credit: US investment-grade yields are at record lows, with the Bloomberg/Barclays index approaching 2%. Thanks to the Federal Reserve, financing costs have collapsed for companies with strong balance sheets.

Source: The Daily Shot


Food For Thought: Testing vs. new cases, by state:

Source: @axios; Read full article

Edited by Daniel Moskovits

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