The Daily Shot Brief – September 14th, 2017



The United States: Is wage growth about to accelerate (see more detail here)?

Source: Capital Economics


Credit: The Moody’s bond covenant index (which measures investor protections built into the bond documents) is drifting lower.

Source: Moody’s Investors Service


Energy: Refinery inputs took a massive hit as a result of Harvey.


And this is propane production by region.



China: The US-China trade protectionism efforts are already under way

Source: BMI Research


Emerging Markets: The EM stock market rally has been impressive especially in Latin America. Moreover, EM bond spreads continue to tighten.

Source: Capital Economics


Equity Markets: Credit Suisse published its latest report on the US market dynamics. Here are some highlights.

• Trading activity continues to shift to the end of the trading day (MOC = Market On Close).

Source: Credit Suisse
Source: Credit Suisse

• Periodic index rebalancing in ETFs is creating end-of day volume spikes on certain days of the year.

Source: Credit Suisse


Global Developments: More economists now think the Fed is done with rate hikes for the year. Below are the rate projections for the Fed, the BoE, the ECB, and the BoJ.

Source: Capital Economics

Food for Thought: Apple’s dependence on the iPhone for growth.


Source: @WSJGraphics, @josephncohen; Read full article

Edited by Joseph N Cohen

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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.

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