The Daily Shot Brief – May 4th, 2021



United States: The April ISM Manufacturing PMI unexpectedly pulled back from the highs. While factory activity remains exceptionally strong, there are signs that supply-chain bottlenecks are becoming a drag on production and employment.

Source: Daily Shot


Europe: Just like in the US, European supply chains are strained (2 charts).

Source: @financialtimes Read full article
Source: Gavekal Research


Emerging Markets: Colombia’s finance minister quit, spooking the markets.

Source: @financialtimes Read full article


The stock market:

Source: Daily Shot


Equities: Trend in big tech stocks’ revenue growth:

Source: @financialtimes Read full article


Rates: Massive liquidity continues to depress money market rates. Here is the 12m T-Bill – OIS spread.

Source: Bloomberg


Will the Fed be forced to adjust IOER to bring the fed funds rate toward the middle of the range?

Source: Daily Shot


Food For Thought: Maritime choke points:

Source: Visual Capitalist Read full article

Edited by Devon Lall

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