Greetings,
The United States: While the private sector of the labor market has rebounded from the pandemic, state and local government job growth has lagged behind.
A key reason for lagging public-sector labor supply recovery is sluggish wage growth. A significant component of this trend are public school teachers, many of whom are not returning to work.
The Eurozone: Consumer confidence is at multi-decade lows.
Japan: Japanese authorities intervened in the currency market on Thursday. It was the first time Japan had sold dollars since 1998. The yen jumped.
Emerging Markets: Turkey’s central bank cut rates by 100 bps. Why not – the core inflation is only 66%.
Cryptocurrency: It’s been a tough week for cryptos, although XRP continues to outperform.
Equities: Investors are most bearish since the financial crisis.
The S&P 500 is nearing oversold territory.
Food for Thought: Here’s a look at NFL vs. NBA sports fans internationally.
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
