Greetings,
The United States: The probability of a rate hike in November declined as Fed officials’ concern grew about rising Treasury yields and tightening financial conditions.
Treasury yields dropped sharply, with the 2-year rate dipping below 5%.
Energy: Oil implied volatility continues to rise.
Credit: Cat bonds have been outperforming.
Equities: The disparity between valuations and real yields extends beyond the tech-heavy S&P 500. Here is the equal-weighted index:
China: After the Evergrande fiasco, markets viewed Country Garden as a relatively safe bet. That bet didn’t end well.
Emerging Markets: USD/IDR is at resistance as the Indonesian rupiah weakens.
Food for Thought: AI and intellectual property:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
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