The Daily Shot Brief – September 26th, 2017

Greetings,

 

The United States: Growth in real hourly wages has been uneven.

Source: WSJ.com, h/t Paul Menestrier; Read full article

 

Credit: Leveraged loan issuance in the US is on track to hit a record this year.

Source: WSJ.com, h/t @jessefelder

 

China: Local and regional governments continue to raise money through land sales.

Source: Moody’s Investors Service

And times are good to sell land, especially if it can be developed for residential use.

Source: Moody’s Investors Service

 

Energy Markets: OPEC’s output is expected to rise as oil production in Libya and Nigeria stabilizes.

Source: @IIF

 

Global Developments: Several indicators point to strengthening global trade volumes despite the rise in protectionist measures.

Source: Capital Economics

 

Emerging Markets: This chart shows the net easing by EM central banks, which is expected to continue through 2018. Russia, Brazil, and Indonesia are just some of the recent examples.

Source: Capital Economics

 

The Eurozone: This chart shows the interest rates on small business loans in Italy, France, and Germany. The ECB’s monetary transmission concerns have finally been addressed.

Source: Goldman Sachs, @joshdigga

 

Equity Markets: Here is the year-to-date risk-return scatter plot for major asset classes. REITs continue to look terrible.

Source: BMO Wealth Management

 


Food for Thought: Apple (and to some extent the US stock market) remains dependent on the iPhone revenues. Will the public pay nearly $1,000 for the latest product?

Source: WSJ.com, h/t Paul Menestrier; Read full article

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.

We would also like to thank the Federal Reserve Bank of St. Louis for the incredible job they have done providing data and graphics to the public. Here is the credit and legal notice related to all FRED charts: FRED® Graphs ©Federal Reserve Bank of St. Louis. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. http://research.stlouisfed.org/fred2/


Contact the Daily Shot Editor: Editor@DailyShotLetter.com

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