The Daily Shot Brief – November 14th, 2018

Greetings,

 

The United States: The number of Americans not working due to illness has declined in recent years (higher wages pull more people into the labor force).

Source: @JedKolko

 

China: Credit expansion continues.

Source: Scotiabank Economics

The weakness has been in non-bank credit.

Source: Nomura, @zerohedge

 

The Eurozone: When is the ECB’s “liftoff”?

Source: Deutsche Bank Research

 

Rates: Will the massive global debt load slow the Fed’s rate hike trajectory?

Source: ANZ Research

 

EquitiesWhile bank shares tend to trade with the slope of the yield curve, there doesn’t seem to be a direct relationship between the 10yr-2yr Treasury spread and net interest margins.

Source: Moody’s Investors Service

 

Emerging Markets: This chart provides a detailed history of EM crises by region and type.

Source: Capital Economics

 

 


Food for Thought: Old-age dependency ratio:

Source: Gavekal

Edited by Joseph 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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