The Daily Shot Brief – November 21st, 2017

Greetings,

 

The United States: Over the past year, labor force participation has declined in more “red” than “blue” states. There are multiple explanations for this, including (in some instances) an older population, fewer opportunities (especially in rural areas), and opioids.

 

Source: @IIF, @josephncohen; Read full article

A similar picture emerges for the employment-to-population ratio.

Source: @IIF, @josephncohen; Read full article

Here is Tennessee, for example.

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

 

Europe: The UK households remain worried about their future finances.

Source: @MarkitEconomics; Read full article

 

Credit: CLOs hold more than half of all leveraged loans outstanding.

Source: @MoHossain, @theleadleft, @josephncohen

 

Equity Markets: Investors remain extremely optimistic.

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

 

Emerging Markets: India’s bonds rallied sharply (yields fell) as the central bank decided to forgo a debt sale expected later this week (100 billion rupees). The central bank has been selling debt to sweep liquidity from the banking system (the reverse of QE). The missed bond auction is viewed as a dovish signal.

Source: The Daily Shot

 

Global Developments: World trade volumes have risen sharply despite the protectionist rhetoric.

Source: Capital Economics

 


Food for Thought: This year’s “internet minute” graphic.

Source: @wef; Read full article

 

**Please note that The Daily Shot Brief will not be published this Thursday (23d) and Friday (24th).


Edited by Joseph N Cohen


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