Greetings,
The United States: Trade policy uncertainty has reached new highs.
United Kingdom: The UK stock market took the biggest one-day hit in years. While the decline was part of the global selloff, some investors were also unnerved by the possibility of an administrative border between Northern Ireland and the rest of Great Britain (Boris Johnson’s proposal).
Hong Kong: The economy is in a recession. Retail sales are down 23% from a year ago.
Emerging Markets: The rotation into emerging market bonds and out of emerging market equities continues.
Energy: Here is the world electricity generation forecast by fuel type.
Rates: The 3-month Treasury bill yield (blue) is now above yields offered by other developed economies (min/max yield range shaded in red). According to Arbor Data Science, the US 3-month yield tends to peak 1-3 years before the rest of the world, often leading to periods of economic weakness and/or recession.
Food for Thought: President Trump’s approval rating, by poll type:
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