Greetings,
Administrative Update: The Daily Shot Brief will not be published on November 24th, 25th, and 26th.
United States: Retail sales were well above expectations in October, with consumers starting their holiday shopping early (apparently unfazed by higher prices).
Eurozone: French fertilizer prices are soaring, which will drive up food inflation.
China: State-owned enterprise (SOE) debt has grown to about 130% of GDP.
Cryptocurrency: Major cryptocurrencies have been in the red in recent days.
Rates: The correlation between the short end and long end of the yield curve has collapsed to previously never seen lows.
Food for Thought: SALT deductions by income group:
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com