Greetings,
United States: While the debt limit crisis has been averted in the short term, the US Treasury is massively underfunded.
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/US-CDS-Treas-massively-underfunded2110110438.png)
United Kingdom: Gilt yields are surging (2 charts).
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/UK-10y-resistance2110110438.png)
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/UK-2y2110110438.png)
The probability of three BoE rate hikes by next June is approaching 80%.
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/UK-3-hikes2110110438.png)
Cryptocurrency: Bitcoin’s spot volume increased over the past few days, reflecting a resurgence of buying activity.
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/BT-Spot-volume2110110438.png)
Energy: US crude oil is trading above $80/bbl for the first time since 2014.
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/EN-WTI2110110438.png)
The curve is moving deeper into backwardation as the market anticipates tight supplies.
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/EN-WTI-7-12110110438.png)
Rates: SOFR swap trading volumes continue to climb.
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/RA-SOFR-Swaps2110110438.png)
Food for Thought: Year-over-year rent price changes by state:
![The Daily Shot Brief – October 11th, 2021](https://thedailyshot.com/wp-content/uploads/VTC-AAA-Year-over-year-rent-price-changes-by-state2110110438.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com