The United States: US multinationals have been repatriating cash from Ireland.
Asia-Pacific: New Zealand’s bond yields are still climbing.
Eurozone: Real rate differentials between the Eurozone and the US have been a drag on the euro.
Equities: Bank shares were also lagging amid concerns that Democrats will increase scrutiny on the sector.
Credit: Below we have some data on the global green bond market.
Emerging Markets: This scatterplot shows the current account balance (% of GDP) vs. the current account change over the past three years (vulnerable economies in lower left).
Food for Thought: US presidents with immigrant parents or grandparents:
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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