Greetings,
The United States: Manufacturing confidence has been deteriorating. Here is the sentiment index from the National Association of Manufacturers.
Equities: Small caps (IWM) have sharply outperformed the Nasdaq 100 (QQQ) over the past couple of days.
Canada: Following the surprise 25bp rate hike, the market sees the overnight rate hitting 5.14% by the end of the year.
The Eurozone: This chart shows inflation trajectories projected by inflation swaps.
Emerging Markets: Brazil’s broad inflation index declined by most on record (going back to the 1940s). This measure includes consumer, wholesale, and construction prices.
Capital Economics sees EM rate cuts accelerating into next year.
Energy: US oil production hit the highest level since early 2020.
Food for Thought: Lastly, here is a look into Tesla’s profit margin:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
