Greetings,
The United States: So far, there isn’t much evidence for a sustained wage acceleration in the United States.
China: China can counter the US even without tariffs. Here is how the retaliation played out after the nation’s disputes with Japan and South Korea.
Rates: US buyers of Treasuries no longer have foreigners or the Fed competing with them.
Equity Markets: The relative weight of defensive stocks (such as utilities) in the S&P 500 continues to trend lower.
Emerging Markets: EM portfolio outflows continue.
Global Developments: Here is a long-term chart of stock valuations for the US, developed markets ex. US, and emerging markets.
Food for Thought: World’s top exporters:
Edited by Joseph Cohen
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to support@wsj.com.
Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen), Ycharts.com, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.
We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
