The Daily Shot Brief – November 5th, 2021



United Kingdom: Despite a surge in inflation this year, major central banks are not as eager to hike rates as the markets feared. In recent days, that has been the lesson from the ECB, the Fed, the RBA, and now the BoE. The UK’s central bank surprised the markets by holding rates unchanged. To be sure, the BoE will probably hike in December, but there doesn’t seem to be the urgency that was priced into the markets.

Source: Bloomberg Read full article


United States: The Oxford Economics supply chain stress tracker shows no signs of easing.

Source: Oxford Economics


China: China continues to be a disinflationary force by not passing through rising materials prices into exports. Is this trend sustainable? 

Source: Gavekal Research


Equities: BlackRock expects earnings growth to normalize as economic activity settles.

Source: BlackRock


Credit: Based on the high-yield spread and rating agency projections, default rates for risky bonds are expected to continue lower over the next year.

Source: IMF


Food for Thought: US meat prices:

Source: @business Read full article

Edited by Devon Lall

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