Greetings,
The United States: Americans should expect a bump in tax refunds next year (see Morgan Stanley’s comments below).
China: This chart shows how Beijing has been “guiding” the housing market. Do the current levels suggest that housing policy tightening is coming?
The Eurozone: Is business investment about to slow?
Equities: Growth in profit margins continues to climb.
Credit: CCC bond yields jumped above 10% (on average).
Emerging Markets: The broad MSCI EM currency index remains near the lows for the year.
Food for Thought: Is there a relationship between violent events in the US and the stock market?
Edited by Joseph Cohen
What We’re Reading: The Kobeissi Letter
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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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