The Daily Shot Brief – March 23rd, 2021



United States: Existing home sales declined last month due to the deep freeze in parts of the country as well as collapsing housing inventories.

Source: @WSJ Read full article


The housing market weakness in February is expected to be temporary. Here is a comment from Moody’s Analytics.

It took severe winter storms across many parts of the U.S. to cool the housing market. This should prove temporary, as sales and construction that would have occurred in February will be pushed into March and April.


Eurozone: This chart shows the euro-area savings increase by age.

Source: TS Lombard


Europe: Norway may need a lockdown.

Source: Pantheon Macroeconomics


Here is some data on European unicorns.

Source: @WorkMJ


Asia-Pacific: Speculative accounts have turned bearish on the yen (vs. USD).

Source: ING


Australia’s exports to China and a rise in silver relative to gold could support a higher AUD/NZD.

Source: Alpine Macro


China: A boost in manufacturing is needed to reach a 6% GDP growth target this year.

Source: Nordea Markets


Nordea expects a period of deleveraging as China’s public and private debt/GDP reaches 300%.

Source: Nordea Markets


Food For Thought: US flood risk:

Source: Bloomberg Read full article

Edited by Devon Lall

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