The United States: This chart shows the divergence between the US and China’s business activity. Is it sustainable?
Rates: This chart compares the 3-month T-bill yield to the equivalent rate in Germany and the UK.
China: Portfolio flows are still positive but have slowed.
The United Kingdom: Below is the UK’s service-sector employment outlook index.
Equities: Here is an update on passive vs. active fund flows.
Global Developments: Below is Oxford Economics’ estimates for the output gap in advanced economies.
Emerging Markets: This chart shows the spread between US high yield bonds and EM debt.
Food for Thought: Meth labs by county:
Edited by Joseph 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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