The Daily Shot Brief – November 20th, 2017



The United States: The Mortgage Bankers Association showed an increase in mortgage delinquency rates last quarter. Is this hurricane-related?

Source: The Daily Shot

As a whole, US consumers’ balance sheets remain in good shape. Of course, the trends in the chart below are very different across the income levels.

Source: Capital Economics

The debt concern in this economic cycle is in the corporate sector.

Source: Moody’s Investors Service


The Eurozone: Kept alive by banks, “zombie” firms in Europe create a drag on investment and growth.

Source:, h/t Paul Menestrier; Read full article


Credit: College debt continues to get downgraded. Some suggest that this could become a severe problem if the economy slows (colleges are no longer able to raise tuition at the rate they used to). Will we see colleges consolidating or even going under?

Source: Moody’s Investors Service


Equity Markets: Realized sector correlations remain remarkably low. Part of the reason is oil decoupling from stocks. Also, the carnage in the retail and consumer staples sectors was taking place just as tech, semiconductors, and homebuilders rallied.

Source: Cantor Fitzgerald Market Strategy Team


Emerging Markets: The mess in Zimbabwe hasn’t been good for the nation’s stock market. Robert Mugabe “is out” according to his party, but he is not going anywhere according to him. What will the military do?

Source: The Daily Shot


Alternatives: Uber valuations diverge across major holders.

Source:, h/t Paul Menestrier; Read full article


Food for Thought: Which countries are most affected by terrorism?

Source: @conradhackett

Edited by Joseph N Cohen

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Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

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