The United States: Manufacturing reports continue to show rapid inventory build.
The Daily Feather: – Major restocking tends to coincide with the economy emerging from a recession, making the current inventory build unusual – in a bad way. Fear is driving companies to overbuild inventories. Transportation bottlenecks and worries over future higher-priced input costs are the two main catalysts.
China: Investors are worried about China’s off-balance-sheet local government debt.
The Eurozone: French household consumption has stalled.
Equity Markets: Cannabis stocks had a strong month. Constellation Brands’ investment in Canopy Growth has been the catalyst (see story).
Global Developments: This chart shows the equity market performance for select economies.
Emerging Markets: Manufacturing PMI indicators point to slower growth across EM.
Food for Thought: Nike’s Colin Kaepernick campaign targets younger customers and gets a great deal of free publicity.
Edited by Joseph 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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