Greetings,
The United States: Americans have been staying in their homes longer (before deciding to sell).
Moody’s is projecting that many more homes will be sold next year as homeowners finally make their move.
The forecast of over 700k more units sold, however, contradicts other assessments.
The Eurozone: Based on the ECB’s announcement last week, here are the central bank’s securities purchases projected into 2019.
The ECB’s securities holdings will keep climbing, albeit at a slower rate.
Emerging Markets: Venezuela said that it made the principal payment on the amortizing debt on Friday. Investors were worried that the government wouldn’t be able to meet its obligations. Bond yields dipped on the news, but more such lumpy payments are coming up soon.
Equity Markets: Jamie Dimon made some good calls buying JPMorgan stock for his personal account.
Global Developments: Here is the Fed’s, the ECB’s, and the BoJ’s balance sheets as a percentage of each economy’s GDP.
Food for Thought: Since we are talking about Spain and Catalonia, here is a map of Europe in 1470. Catalonia was part of Aragon.
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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