The Daily Shot Brief – June 23rd, 2022

Greetings,

 

The United States: First on consumer spending, real card spending growth is now negative.

Source: Bank of America Institute; h/t @SamRo

 

Canada: The May CPI report topped expectations – again. Here is the headline CPI:

Source: The Daily Shot

 

Europe: The Czech central bank hiked its benchmark rate by 125bps to 7%. The market expects a recession, with the yield curve deeply inverted.

Source: The Daily Shot

 

Commodities: Agricultural commodities are also moving lower. Here is Bloomberg’s agricultural commodity index:

Source: The Daily Shot

 

Energy: US energy shares slumped in recent weeks, but renewable energy stocks outperformed.

Source: The Daily Shot

 

Alternatives: Direct real estate exposure has a weak correlation to the S&P 500, unlike REITs.

Source: J.P. Morgan Asset Management

 

Food for Thought: Lastly, here is GDP per capita vs. food and energy consumption (as a share of total):

Source: Trahan Macro Research

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com


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