Greetings,
The United States: First on consumer spending, real card spending growth is now negative.
Canada: The May CPI report topped expectations – again. Here is the headline CPI:
Europe: The Czech central bank hiked its benchmark rate by 125bps to 7%. The market expects a recession, with the yield curve deeply inverted.
Commodities: Agricultural commodities are also moving lower. Here is Bloomberg’s agricultural commodity index:
Energy: US energy shares slumped in recent weeks, but renewable energy stocks outperformed.
Alternatives: Direct real estate exposure has a weak correlation to the S&P 500, unlike REITs.
Food for Thought: Lastly, here is GDP per capita vs. food and energy consumption (as a share of total):
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com