Greetings,
The United States: To begin, the Treasury curve inverted as short-term yields continued to soar on Monday.
The market has massively repriced Fed rate hike probabilities amid concerns that inflation expectations are becoming unanchored. The probability of a 75 bps rate increase this week is suddenly almost a certainty, and the odds are high that we are going to see a jumbo hike in July as well.
Equities: The COVID-era bull market is officially over.
US shares have been underperforming the rest of the world recently.
The United Kingdom: UK GDP contracted for the second month in a row in April.
The Eurozone: Here are Eurozone yield changes in standard deviations.
China: China’s large-cap stocks have been outperforming the S&P 500 in dollar terms.
Food for Thought: Lastly, here are large companies with the biggest losses as a share of revenue:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
