Greetings,
United States: Global inflationary trends (combined with robust US consumption) are causing the market to reevaluate the Fed’s actions over the next few years. The market is increasingly convinced that the Fed will be forced to hike twice next year.
Moreover, the market sees the central bank becoming more aggressive over the next few years as inflation becomes tougher to tame. The front end of the Treasury curve is steepening.
On the other hand, the longer end of the Treasury curve is flattening.
United Kingdom: Some consumers are experiencing shortages of food items.
China: China’s economy slowed last quarter, with the GDP report coming in below forecasts.
Cryptocurrency: It’s official. The SEC approved the first futures-based bitcoin ETF.
Bitcoin blasted past $62k.
Energy: Options traders are increasingly betting on $100/bbl oil.
Food for Thought: Getting a booster shot:
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
