Greetings,
United States: Initial jobless claims continue to trend lower.
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/US-Claims2106040443.png)
Continuing claims are moving down as well, but there are still more than 15 million Americans receiving unemployment benefits.
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/US-Claims-Cont2106040443.png)
However, according to Oxford Economics, “roughly 4.1 million individuals will lose access to emergency unemployment benefits over the coming month” (an income cliff).
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/US-Claims-map2106040443.png)
Eurozone: Real yield differentials with the US point to downside risks for the euro.
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/EZ-EUR-v-Real-Ylds2106040443.png)
Emerging Markets: Will China’s slowing credit impulse put downward pressure on EM currencies?
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/EM-FX-v-CH-credit-Impulse2106040443.png)
Equities: Tech fund outflows in May were the worst since 2018.
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/EQ-Tech-Outflows2106040443.png)
Global Developments: Currency markets’ implied volatility continues to drift lower.
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/GL-FX-Vol2106040443.png)
Food for Thought: Household wealth by generation:
![The Daily Shot Brief – June 4th, 2021](https://thedailyshot.com/wp-content/uploads/VTC-Distrib-of-HH-Wealth2106040443.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com