Greetings,
United States: Short-term Treasury yields continue to climb …
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/US-2y2111010439.png)
… as the market prices in a more aggressive rate hike schedule next year.
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/US-3-Rate-Hikes2111010439.png)
The first hike is now priced in for next July. Interestingly, risk markets (such as stocks) are ignoring this trend for now.
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/US-111-Hikes2111010439.png)
China: Coal prices continue to tumble
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/CH-CO-Coal2111010439.png)
Energy: Brent continues to move deeper into backwardation.
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/EN-Brent-Curve2111010439.png)
Equities: The volume of call options on Nasdaq 100 stocks has been surging (boosted by Tesla).
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/EQ-Call-Options-NDX2111010439.png)
Rates: Yield curves have been flattening. MRB Partners expects the resumption of a bear steepening trend once it is clear that underlying inflation will be stickier than most expect.
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/RA-Steepening-AAA2111010439.png)
Food for Thought: Top sovereign wealth funds:
![The Daily Shot Brief – November 1st, 2021](https://thedailyshot.com/wp-content/uploads/VTB-Top-sovereign-wealth-funds2111010439.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com