The Daily Shot Brief – October 21st, 2021

Greetings,

 

United States: Here are some updates on inflation. TIPS breakevens (market-based inflation expectations) keep climbing, with the 5-year rate hitting a multi-year high.

The Daily Shot Brief – October 21st, 2021
Source: The Daily Shot

The amount of “excess” liquidity in the economy is staggering, which will continue to be a tailwind for inflation. Here is the M2 money supply vs. the pre-COVID trend.

The Daily Shot Brief – October 21st, 2021
h/t Jim Reid, Deutsche Bank Research

 

Eurozone: Surging energy prices continue to boost inflation, and there is much more to come as the natural gas price spike makes its way through the economy.

The Daily Shot Brief – October 21st, 2021
Source: Pantheon Macroeconomics

 

China: Coal futures tumbled as Beijing tries to address the energy crisis. Previous attempts provided only temporary relief.

The Daily Shot Brief – October 21st, 2021
Source: Reuters Read full article
The Daily Shot Brief – October 21st, 2021
Source: The Daily Shot

 

Cryptocurrency: Bitcoin made an all-time high above $66K on Wednesday.

The Daily Shot Brief – October 21st, 2021
Source: CoinDesk Read full article
The Daily Shot Brief – October 21st, 2021
Source: The Daily Shot

 

Energy: Oil inventories at Cushing, OK continue to dwindle.

The Daily Shot Brief – October 21st, 2021
Source: The Daily Shot

 

Food for Thought: Public spending on family benefits:

The Daily Shot Brief – October 21st, 2021
Source: @WSJ Read full article

Edited by Daniel Moskovits

Contact the Daily Shot Editor: Editor@DailyShotLetter.com


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