Greetings,
The United States: Mortgage applications for house purchases remain at multi-year highs.
Mortgage refinancing activity is also elevated.
United Kingdom: Shares of businesses focused primarily on the UK have become highly correlated to the pound.
China: According to Goldman’s policy proxy, China’s fiscal policy has accounted for a large part of recent easing.
Equities: Historically, equities started to struggle after the spread between US 10-year and 3-month yields returns to positive territory.
Rates: The Fed is expected to continue purchasing Treasury bills after the initial ramp-up to boost reserves. It will need to do so just to maintain stability in reserve balances.
Food for Thought: Cities with the highest mortgage application denial rates:
Edited by Daniel Moskovits
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to support@wsj.com.
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
Subscribe to the Daily Shot Brief
