The Daily Shot Brief – March 19th, 2021

Greetings,

 

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

Contact the Daily Shot Editor: Editor@DailyShotLetter.com


If you would like to subscribe to the full-length Daily Shot (see example), please register here.

Leave a Reply