The Daily Shot Brief – May 5th, 2020



Emerging Markets: Mexican remittances unexpectedly spiked in March, hitting a record high.

Source: Daily Shot


Workers from Mexico living in the US tapped their dollar savings to take advantage of the weak peso during the crisis.

Source: Daily Shot


China: Corporate earnings have deteriorated sharply in the first quarter.

Source: Gavekal


Japan: The Bank of Japan is lagging the Fed in terms of total assets, which could weigh on USD/JPY.

Source: Alpine Macro


Eurozone: Households’ demand for credit tumbled since the start of the pandemic.

Source: Pantheon Macroeconomics


United States: How massive will the GDP decline be in the second quarter?

Source: Piper Sandler


Many economists suggest that “soft” economic data such as the PMI or regional Fed surveys are substantially underestimating the carnage in output. The latest consensus forecast is a contraction of 27.5% (annualized).

Source: @TheTerminal


Food for Thought: Success rates in vaccine developments:

Source: Bruegel; Read full article

Edited by Devon Lall

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