The Daily Shot Brief – March 1st, 2018




The United States: How much of the recent corporate tax reductions will go to the American worker? Estimates vary dramatically.

Source: Morgan Stanley, @SteveRattner

Here is how Morgan Stanley sees the allocation of gains from the tax cuts. Wall Steet is enormously grateful to Uncle Sam this year.

Source: Morgan Stanley, @SteveRattner


Equity Markets: The S&P 500 implied volatility remains elevated relative to corporate credit spreads.

Source: Bloomberg


Credit: Short interest is building in high-yield bond ETFs.

Source: @trevornoren; Read full article


Eurozone: There hasn’t been much concern in the market about the Italian elections. Here is the 1-week EUR/USD risk reversal.

Source: Bloomberg


China: Higher rates last year had put some pressure on commodity-focused sectors (the “old economy”). The “new economy” industries, however, did better. This chart shows the economic “rebalancing” taking place in China.

Source: Goldman Sachs


Emerging Markets: Brazil’s output gap is still quite large.

Source: @macrolca


Food for Thought: One in 14 US women smokes while pregnant.

Source: CNN; Read full article



Edited by Joseph N 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

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

Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, 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.

Contact the Daily Shot Editor:

Leave a Reply

Your email address will not be published. Required fields are marked *