United States: Existing home sales declined last month due to the deep freeze in parts of the country as well as collapsing housing inventories.
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.
Europe: Norway may need a lockdown.
Here is some data on European unicorns.
Asia-Pacific: Speculative accounts have turned bearish on the yen (vs. USD).
Australia’s exports to China and a rise in silver relative to gold could support a higher AUD/NZD.
China: A boost in manufacturing is needed to reach a 6% GDP growth target this year.
Nordea expects a period of deleveraging as China’s public and private debt/GDP reaches 300%.
Food For Thought: US flood risk:
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com