The United States: This chart shows US household formation over time (renters vs. homeowners).
China: This chart shows the RMB (yuan) usage in foreign payments.
The Eurozone: Switzerland’s PMI is declining quickly (yesterday we saw sagging economic confidence – see chart).
Equities: Small banks have boosted their borrowing in recent months which isn’t helping their share prices (especially if the yield curve stays flat).
Credit: Fixed-income ETF trading volume jumped, especially for EM debt and US high-yield.
Emerging Markets: This chart shows central bank rates across Latin America.
Food for Thought: How quickly do companies fix software flaws?
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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