The Daily Shot Brief – September 22nd, 2021



United States: The FOMC acknowledged the recent pandemic-induced economic slowdown but signaled the beginning of taper (probably in November). Moreover, Jerome Powell expects to complete tapering by mid-2022 (some analysts expected the Fed to reduce its purchases more gradually). Here is the September FOMC statement compared to the previous one.

Source: @johnjhardy

With more Committee members seeing upside risks to inflation, …

Source: @DiMartinoBooth, @xieyebloomberg, @business

… the dot-plot was more hawkish. Two more FOMC members now expect rate hikes next year.

Source: @TheTerminal, Bloomberg Finance L.P.


Asia-Pacific: Exports from Taiwan are well above trend, boosted by semiconductor supply shortages.

Source: Capital Economics


China: Stocks rebounded in Hong Kong, including property shares.

Source: The Daily Shot


Equities: US equities continue to outperform other major assets this year (except broad commodities), mainly driven by large and mega-cap stocks.

Source: SPDR Americas Research, @mattbartolini


Rates: The US Treasury default risk (the debt ceiling not lifted) is priced into the T-bill market.

Source: Oxford Economics


Food for Thought: US box office rebound:

Source: @chartrdaily

Edited by Daniel Moskovits

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