Greetings,
The United States: What is the impact of the Senate GOP tax proposal (the “double taxation” with respect to local taxes) on the housing market? Is this a form of (“blue” to “red”) income redistribution?
Separately, here is what economists think about the tax cut impact on the GDP a decade from now.
The Eurozone: Repeating the German elections is likely to produce very similar results, and therefore won’t resolve the current impasse.
Moreover, Angela Merkel’s approval ratings (which have been remarkably stable) are starting to slip. You don’t have to know German to understand what the chart below says.
Credit: Leveraged loan issuance is on target to hit a record in 2017.
Equity Markets: What would a $1k investment in these firms ten years ago be worth now?
Emerging Markets: South Africa’s business confidence is tumbling on political and fiscal uncertainties.
Rates: Longer-dated Treasury yields have been more influential on the dollar movements recently than the shorter end of the curve.
Food for Thought: Wage theft.
**Please note that The Daily Shot Brief will not be published this Thursday (23d) and Friday (24th).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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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.
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