Greetings,
The United States: Initial jobless claims are now firmly under pre-COVID levels, hitting a multi-year low. Investors have been looking for signs of some loosening in the labor market. This report didn’t provide any.
The market is now pricing in almost 200 bps of rate hikes between now and the end of the year.
The United Kingdom: The pound reached its lowest level against the dollar since 1985.
Equities: FedEx dropped 11% after the close, which doesn’t bode well for economic growth.
Emerging Markets: EM central banks tightened much earlier than advanced economies, which creates more flexibility with easing monetary policy.
Alternatives: Private equity deal volume has been trending lower.
Food for Thought: To conclude, here are the days worked from home by county in the US:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
