Greetings,
United States: The Markit Manufacturing PMI hit a new record, pointing to exceptionally strong growth in US factory activity.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/US-PMI2106240429.png)
Neither supply chain bottlenecks nor price pressures show signs of abating.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/US-PMI-Delivery-times2106240429.png)
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/US-PMI-Prices2106240429.png)
Emerging Markets: Some data on LatAm international debt issuance.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/EM-Lat-Am-bond-issuance2106240429.png)
Energy: Conventional oil and gas shares are recovering as renewable energy stocks consolidate.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/EN-Conventional-OnG2106240429.png)
Rates: While Chair Powell’s comments remain dovish, other Fed officials are talking about rate hikes next year. That would suggest that QE tapering should start later this year to give the central bank a sufficient runway.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/RA-Kaplan-ST2106240429.png)
The market has now fully priced in a 2022 liftoff, with a 50% chance of two rate hikes next year.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/RA-2-hikes2106240429.png)
Global Developments: Transit usage is gradually improving, although still below pre-pandemic levels.
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/GL-Transit-improving-AAA2106240429.png)
Food for Thought: Sperm concentration over time:
![The Daily Shot Brief – June 24th, 2021](https://thedailyshot.com/wp-content/uploads/VTH-Sperm-concentrations2106240429.png)
Edited by Richard Holmes
Contact the Daily Shot Editor: Editor@DailyShotLetter.com