The Daily Shot Brief – June 16th, 2022



The United States: Following the 75 bps rate hike Wednesday,  the FOMC downgraded its GDP projections and boosted the forecasts for unemployment. The collateral damage from this inflation battle is now expected to be more severe, narrowing the path to a “soft landing.”

Source: The Daily Shot


The terminal rate expectations are back below 4%.

Source: The Daily Shot


The first regional manufacturing report of the month (from the NY Fed) showed slowing demand. Here are unfilled orders:

Source: The Daily Shot


The Eurozone: The trade deficit was much wider than expected, hitting a new record. This trend is driven by surging energy costs and a bigger deficit with China.

Source: The Daily Shot


China: In China, the post-lockdown recovery has started.

Source: Gavekal Research


Emerging Markets: The Central Bank of Russia’s emergency measures are now withdrawn.

Source: IIF


Energy: US crude oil and distillates inventories showed some improvement, but gasoline stocks continue to plummet.

Source: US EIA


Food for Thought: To end off, here are the annual hours worked by country:

Source: @WSJ  Read full article

Edited by William Villacis

Contact the Daily Shot Editor:

If you would like to subscribe to the full-length Daily Shot (see example), please register here.

Leave a Reply