The Daily Shot Brief – March 19th, 2021



Rates: Stimulus checks are on their way. As the US Treasury withdraws cash from its account at the Fed, it moves liquidity into the private sector.

Source: The Daily Shot

As a result, short-term rates have drifted into negative territory.

Overnight GC repo rate (5-day moving average):

Source: The Daily Shot

Treasury bill yields (the 3-month bill is now negative):

Source: The Daily Shot


Equities: The average amount of time that US investors hold onto a given position is approaching an all-time low.

Source: Market Ethos, Richardson GMP


Energy: US oil production is expected to recover significantly by the end of the year.

Source: Longview Economics


Emerging Markets: Turkey’s central bank hiked rates by 200 bps (the market expected 100 bps).

Source: The Daily Shot

The lira surged.

Source: The Daily Shot


United States: Higher mortgage rates are expected to cool US housing activity.

Source: BCA Research


Food For Thought: Is a third political party needed in the US?

Source: Gallup Read full article

Edited by Daniel Moskovits

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