The Daily Shot Brief – October 11th, 2019



The United States: Let’s begin with the CPI (Consumer Price Index) report, which was a bit softer than the market was expecting. These inflation figures are unlikely to deter the Fed from cutting rates again this month (the market is assigning a 78% probability that it will do so). Here are the monthly changes in the core CPI.

Source: The Daily Shot


United KingdomThe pound jumped on news of a possible pathway to a Brexit deal.

Source: The Daily Shot

The Eurozone:
The spread between the German and global manufacturing PMIs (Purchasing Manager’s Index) is now the widest on record.

Source: Pantheon Macroeconomics


Energy: The US is now a net exporter of crude oil and refined products.

Source: Princeton Energy Advisors


Credit: High yield has been underperforming relative to investment grade this year. However, based on easier credit conditions, analysts expect the gap to narrow. (LQD = investment-grade ETF, HYG = high-yield ETF, IEF = intermediate-term Treasury ETF).

Source: Hugo Ste-Marie, Portfolio & Quantitative Strategy Global Equity Research, Scotia Capital


Food for Thought: Student debt per student:

Source: The Institute for College Access & Success

Edited by Daniel Moskovits

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