Greetings,
The United States: The NY Fed’s regional index was well below forecasts, as demand slumped.
The spread between wage growth for “job switchers” and “job stayers” tightened sharply last month, suggesting that demand for labor may be easing.
The Eurozone: Investors are bullish on Eurozone vs. US equities.
China: The World Economics SMI report showed a further acceleration in China’s business activity this month.
Equities: The stock-bond correlation has turned negative since the SVB fiasco.
Credit: European banks’ CDS spreads are not signaling a contagion.
Commodities: The rebound in wheat prices is fading.
Food for Thought: Lastly, here are mentions of “ChatGPT” vs. “inflation” on Twitter:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
