The Daily Shot Brief – September 25th, 2019



The United States:  Here is the gap between consumer expectations and current conditions. Extreme lows in this measure tend to indicate that we are in the late phase of the economic cycle.

Source: Daily Shot

Eurozone: Finally, this chart shows the average annual employment and GDP growth by period. The current expansion is more “employment-rich” than the previous ones.

Source: ECB

Europe: Czech rates have been elevated relative to the Eurozone. Is this divergence sustainable?

Source: @Steen_Jakobsen, @markets

Asia-Pacific: The planned Japanese consumption tax increase should have less extreme economic consequences than the prior hike in 2014.

Source: CIBC Capital Markets

Emerging Markets: Investment-grade EM sovereign credit has outperformed high-yield by the largest margin since 2008.

Source: Oxford Economics

Equities: The short end of the vol curve has been remarkably steep. This chart shows the ratio of VXST (near-term vol index) to VIX.

Source: @JLyonsFundMgmt

Food for Thought: The percentage of adults that smoke:

Source: @AI_Knowledge

Edited by Devon Lall

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