The United States: It’s worth noting that rising regional survey price indices (such as the Philly Fed’s data above), don’t necessarily translate into higher consumer inflation.
Also, firmer earnings growth in the 2005-07 period did not result in higher core inflation (PCE).
Equity Markets: This chart shows sector weights by market cap.
Emerging Markets: This chart shows the EM financial conditions indices as a comparison to what took place during the taper-tantrum days.
Canada: Asylum applications in Canada spiked last year.
Eurozone: Euro area’s construction sentiment points to improvement in output later in the year.
Rates: The 30yr -10yr breakeven spread is now negative. Investors see higher average inflation over the next ten years than during the next 30.
Energy: Global oil stockpiles are back below the 5-year average.
Here are the “excess” US inventories.
Food for Thought: Terrorist groups in South East Asia.
Have a great weekend!
Edited by Joseph N Cohen
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to email@example.com.
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.
We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/
Contact the Daily Shot Editor: Editor@DailyShotLetter.com