Greetings,
The United States: To begin, layoffs have picked up, but most workers are finding jobs quickly as the job market remains tight.
The United Kingdom: The pound strengthened substantially vs. the euro after the news of Boris Johnson’s resignation.
The Eurozone: HSBC expects inflation in France to ease as the government prevents the full pass-through of energy price rises, rather than subsidizing income.
China: China is considering a massive stimulus package to focus on infrastructure. Copper prices rose in response.
Equities: We are in for a rough earnings season.
Global Developments: Despite the headwinds, global manufacturing activity held up relatively well last month.
Energy: In energy markets, crude oil futures open interest has been deteriorating.
Food for Thought: Lastly, here are US inflation-adjusted stock market returns during past episodes of turmoil:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
