Greetings,
Emerging Markets: Mexican remittances unexpectedly spiked in March, hitting a record high.
Workers from Mexico living in the US tapped their dollar savings to take advantage of the weak peso during the crisis.
China: Corporate earnings have deteriorated sharply in the first quarter.
Japan: The Bank of Japan is lagging the Fed in terms of total assets, which could weigh on USD/JPY.
Eurozone: Households’ demand for credit tumbled since the start of the pandemic.
United States: How massive will the GDP decline be in the second quarter?
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).
Food for Thought: Success rates in vaccine developments:
Edited by Devon Lall
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 support@wsj.com.
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
Subscribe to the Daily Shot Brief
