Greetings,
United States: The Treasury market continues to show investors’ unease with the debt ceiling situation (potential risk of default). The X-Date is expected to hit later this month.
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/US-Tbill2110040522.png)
Here is the T-bill yield curve.
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/US-Tbill-curve2110040522.png)
Some are calling for the US Treasury to issue a trillion-dollar coin and deposit it at the Fed, which would certainly “avoid” default (MMT on steroids).
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/US-Avoid-Default-ST2110040522.png)
Eurozone: Hedge funds are boosting their bets against the euro.
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/EZ-EUR-Specs2110040522.png)
China: Power rationing is now widespread.
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/CH-AAA-Power-rationing-status2110040522.png)
Rates: Treasuries are headed for their first annual loss since 2014.
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/RA-1st-Annual-Loss2110040522.png)
Global Developments: Higher oil prices will put downward pressure on global GDP.
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/GL-EN-impact-on-GDP2110040522.png)
Food for Thought: Are long-term interest rates at 5,000-year lows?
![The Daily Shot Brief – October 4th, 2021](https://thedailyshot.com/wp-content/uploads/VTB-Long-term-interest-rates-at-5000-year-lows2110040522.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com