Credit: Here is the covenant-light share of the US leveraged loan market.
Japan: The Nikkei continues to climb.
The Eurozone: Investors have taken quite a bit of money out of the largest Spanish equity ETF.
The United States: Nomura sees the GOP succeeding in its efforts to cut US personal taxes by one trillion dollars over the next ten years (in Q1). The team, however, is skeptical about a corporate tax cut. Here is the impact of the tax legislation on the various economic metrics.
China: The renminbi bounced sharply after the holiday week on talk of Bejing widening the currency’s trading band.
Emerging Markets: This chart shows the satisfaction with each nation’s president for the largest Latin American economies.
Equity Markets: Here is an intriguing study pointing to mean-reversion in the stock market. Sharp declines are frequently followed by a bounce. So much for the Markov property assumptions.
Food for Thought: Education by age.
Edited by Joseph N Cohen
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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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