Greetings,
The United States: The Q3 GDP update was unchanged at 3.5%. Here are the latest adjustments of the GDP components.
China: These charts show the components of China’s consumer credit and debt-service burden.
The Eurozone: Italian banks have a relatively small liquidity position, making them more vulnerable.
Global Developments: The G4 central banks’ balance sheet is expected to trough next year. Presumably, the Fed will end its quantitative tightening to ensure ample bank reserves (economists are concerned that tight bank reserves will push the benchmark rate above the Fed’s desired range).
Credit: This chart shows the distribution of leveraged loan issuance by rating.
Asia-Pacific: Sales expectations point to further weakness in Japan’s manufacturing sector.
Food for Thought: Immigration and the labor force:
Edited by Joseph Cohen
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to support@wsj.com.
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.
We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/
Contact the Daily Shot Editor: Editor@DailyShotLetter.com