The United States: The HPS-CS sentiment index shows households becoming concerned about personal finances.
The Eurozone: While the Eurozone’s GDP growth has been underperforming, the GDP per head (working-age population) has kept pace with the US.
Equities: US equities have significantly outperformed global stocks in recent years (in part because of higher tech concentration in US indices).
China: Macquarie’s China business activity proxy shows rapid recovery.
Credit: Investors are nervous about the energy sector. This chart shows the spread between energy high-yield bonds and the overall high-yield index.
Food for Thought: The betting markets’ latest 2020 Democratic nomination odds (cents = % probability):
Edited by Joseph Cohen
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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.
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