The Daily Shot Brief – October 4th, 2017



The United States: This chart shows the number of states with increasing economic activity.

Source: @dv_dend


Credit: There is very little sub-debt in this LBO cycle but a much greater second-lien debt (SLD) tranche.

Source: @lcdnews; Read full article


The United Kingdom: The UK’s construction activity is contracting again.

Source: @MarkitEconomics; Read full article


Emerging Markets: EM hard currency bond issuance hit a new record (“MENA” = Middle East and North Africa).

Source: @IIF, @josephncohen


Global Developments: Despite the jitters in Spain and the upcoming elections in Japan, the foreign exchange implied volatility index (VIX-equivalent) has been declining recently.



Equity Markets: We’ve had a number of questions regarding internet retail businesses squeezing US department stores. But more than the internet, it’s been the off-price retailers such as Marshalls, T.J. Maxx, Ross Stores, etc. that have taken the “brick & mortar” market share. This chart compares margins and operating profits.

Source: Moody’s Investors Service


Food for Thought: Gun ownership around the world.

Source: The Washington Post; Read full article

Edited by Joseph N Cohen

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

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

Thanks to Josh Marte (@joshdigga), Matt Garrett (@MattGarrett3), Joseph Cohen (@josephncohen),, S&P Global, and Moody’s Investors Service for helping with the research for the Daily Shot.

We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis.

Contact the Daily Shot Editor:

Leave a Reply