Greetings,
Administrative Update
1. Please note that The Daily Shot will not be published on Friday, September 3rd and Monday, September 6th.
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United States: Robert Kaplan, one of the more hawkish Fed officials, suggested that he may rethink the timing of taper as the pandemic situation worsens (data below).
That message was a signal for the stock market to rip higher. The “buy-the-dip” crowd is proven right once again.
Eurozone: Inflation differentials between the Eurozone and the US …
… point to a weaker euro (stronger dollar) ahead.
China: The renminbi continues to strengthen against other currencies.
Energy: Speculative accounts have been cutting their bets on WTI crude.
Rates: The Fed’s RRP balances continue to climb (banks and money market funds depositing cash at the Fed).
Food for Thought: The global impact of climate change:
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
