Greetings,
The United States: Here we have the index of container shipping costs from China to LA ports. Here is a comment from Patrik Berglund (CEO of Xeneta).
The chart shows the development of the short and long term market on Transpac Eastbound into LA ports. The spike between the two red boxes indicates the temporary effect of the tariffs/trade war as US importers stocked up their warehouses. What’s interesting though, is how the market has ‘normalized’ on the right red box vs. the left red box – it’s a 15-20% hike. If that level holds (or even rises), we’re talking about billions of dollars of increases that either US importers or consumers will need to absorb.
Eurozone: Spain’s economic recovery has been stronger than the Eurozone’s average.
China: This chart shows the trend in special local government bond (SLGBs) issuance.
Global Developments: This chart shows the types of assets that central banks hold.
Food for Thought: Democratic 2020 presidential candidates’ nomination odds in the betting markets:
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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