The Daily Shot Brief – March 4th, 2020



United States: Rate futures are now pricing in an 85% chance of another 50 basis point cut at this month’s FOMC meeting (3/18). The market expects the US central bank to take the benchmark rate below 0.6% by early next year.

Source: The Daily Shot


Here is the recent history of emergency rate cuts by the Federal Reserve.

Source: @GregDaco


Eurozone: With the core CPI well below target, the ECB is likely to participate in the coordinated global easing.

Source: AP; Read full article


The market is pricing in a 10 bps cut next week.

Source: The Daily Shot


China: Equity outflows from China continue.

Source: IIF


Also there was a vehicle inventories spike.

Source: Commerzbank Research


Commodities: Here are China’s steel inventories at traders and mills.

Source: Macquarie, @Scutty


Equities: Investors redeemed nearly $29 billion in equity ETF assets while upping non-credit bond exposures over the last week of February, according to State Street.

Source: SPDR Americas Research, @mattbartolini


Food for Thought: Cost-burdened renters:

Source: Harvard Joint Center for Housing Studies, h/t HighTower Advisors, RCG Economics; Read full article

Edited by Devon Lall

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