The Daily Shot Brief – May 1st, 2018




The United States: US manufacturing orders have been showing weak capital investment growth.

Source:, h/t Paul Menestrier; Read full article

However, companies are reporting higher CapEx in the first quarter. Part of the reason for the disconnect is that the latest CapEx increases have been dominated by tech firms investing in items such as data centers, servers, communication lines/equipment, warehouses, etc. These tech investment trends are not always evident from the equipment/machinery (capital goods) orders.

Source: Credit Suisse


Equity Markets: In general, the Q1 earnings calls have been relatively optimistic.

Source: BofA Merrill Lynch Global Research


Commodities: Crude oil prices jumped on the Netanyahu/Iran story.

Source: @markets; Read full article


Credit: Lower-quality credit (BBB) is a growing component of the global investment-grade indices.

Source: Basil Williams, PAAMCO


Emerging Markets: EM governments are issuing more “ultra-long” bonds.

Source: IIF


Eurozone: Who owns the euro-area government bonds?

Source: BMI Research


Rates: US bank funding sources have changed dramatically since the financial crisis.

Source: BofA Merrill Lynch Global Research


China: Smartphone shipments are declining.

Source: @jessefelder; Read full article


Cryptocurrency: The diagram below shows how F/X trading can be streamlined using blockchain.

Source: Moody’s Investors Service


Food for Thought: An influential study shows that more than one alcoholic drink per day (100 grams per week) is unsafe.

Source: @voxdotcom, h/t@PotResearch; Read full article



Edited by Joseph N Cohen

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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

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