Greetings,
The United States: The tremendous damage to the Houston-area economy will create a temporary drag on the US GDP.
• The Houston metro area economy is one of the largest in the US.
• In fact, by itself, the Houston-area GDP is greater than the economy of Sweden or Poland.
China: China’s property markets remain hot, with land prices rising rapidly.
Energy Markets: Here is a long-term chart of US coal production and coal mining employment.
Now, there is a rising concern about Hurricane Irma. Even though Irma is a few days away and its path is not entirely certain, US natural gas futures jumped on concerns over disruption.
The Eurozone: Fundamentals, such as real yield differentials, suggest that the euro is significantly overvalued.
Emerging Markets: Brazil is trying to export its way out of the economic slump.
Equity Markets: Historically, September has not been a great month for the US stock market.
Food for Thought: Where a typical working family can or cannot afford to live.
Heads up! The next Daily Shot Brief will be on Tuesday, September 5th. Have a great weekend!
Edited by Joseph N 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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Contact the Daily Shot Editor: Editor@DailyShotLetter.com
