The Daily Shot Brief – May 31st, 2018



The United States: Below is a summary of the regional Fed survey changes in May (GSAI = Goldman Sachs Activity Indicator). The ISM’s national manufacturing index will show a bounce this month (reported June 1st).

Source: Goldman Sachs


The Eurozone: The banking system’s persistent exposure to government debt (linking financial and sovereign risks) worries investors.

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


South Korea: Rising minimum wage is hurting employment growth:

Source: ANZ Research


Equity Markets: The CEO churn at food companies has accelerated amid the consumer staples sector slump.

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


Credit: Many leveraged firms (so-called “zombie” companies) depend on external funding to service their debt. This is not going to end well when the economy slows.

Source: Moody’s Investors Service


Global Developments: This chart shows the relative performance of the major currencies since April 16th.

Source: Goldman Sachs


Food for Thought: How will your financial situation change as a result of the recent tax cuts?

Source: Liberty Street Economics




Edited by Joseph 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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