Greetings,
Asia – Pacific: To begin, the RBA delivered a 50 bps rate hike, spooking the markets
Equities: In equity markets, sentiment has shifted to “risk-off” this morning after global bond yields jumped. The RBA’s outsize hike added to concerns about rising rates. The 10-year Treasury yield is back above 3%.
Are earnings estimates too optimistic?
Rates: The Fed’s reverse repo program balances are near record highs due to tremendous demand for cash-equivalent products (such as money market funds).
The United States: Housing demand continues to ease.
Energy: US crude oil inventories continue to shrink.
China: Following lockdowns in major cities, the supply chain recovery is taking longer than in 2020.
Food for Thought: Lastly, let’s look at the different types of internet crime:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
