The United States: More Americans expect to see increases in their local housing prices than at any time since 2005.
Equity Markets: Retail investors further soured on stocks last month – a bullish sign.
Commodities: Increases in global corn production will be driven almost entirely by rising crop yields.
Credit: On average, covenant-light debt has higher leverage. And yet it trades inside the covenant-heavy loan spreads.
Emerging Markets: Equity and FX volatility measures in emerging markets are moving in opposite directions.
Rates: The US Treasury is starting to issue more longer-term debt which should reduce the pressure on the short end of the curve.
China: China’s corporate dividend payout ratio lags other markets.
Eurozone: Germany’s manufacturing orders disappointed. The pullback was especially visible in non-domestic orders.
Food for Thought: Freelancers by age.
Edited by Joseph N Cohen
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 firstname.lastname@example.org.
Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen), Ycharts.com, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.
We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/
Contact the Daily Shot Editor: Editor@DailyShotLetter.com