Greetings,
United States: The U. Michigan’s consumer sentiment report was a shocker, with the composite index hitting the lowest level in a decade. Increased concerns about the resurgent pandemic and sharp price gains have taken a toll on household confidence.
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/US-Mich2108160436.png)
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/US-Mich-ST2108160436.png)
It was the worst negative surprise on record.
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/US-Mich-Surprise2108160436.png)
Eurozone: The French unemployment rate held at 8% in Q2.
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/EZ-FR-Unempl2108160436.png)
Commodities: Here is a look at 1-year excess returns across major commodities relative to the Bloomberg Commodity Total Return Index.
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/CO-Exess-returns2108160436.png)
Equities: The decline in the 10-year Treasury real yield contributed to a higher S&P 500 price-to-earnings ratio.
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/EQ-SPX-PE-v-Treas2108160436.png)
Rates: Market expects the Fed’s taper to be completed at the beginning of 2023.
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/RA-Implied-end-of-tapering2108160436.png)
Food for Thought: Talent pools of top tech markets:
![The Daily Shot Brief – August 16th, 2021](https://thedailyshot.com/wp-content/uploads/VTT-talent-pools-of-top-tech-markets2108160436.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com