Greetings,
United States: Short-term Treasury yields continue to climb …
… as the market prices in a more aggressive rate hike schedule next year.
The first hike is now priced in for next July. Interestingly, risk markets (such as stocks) are ignoring this trend for now.
China: Coal prices continue to tumble
Energy: Brent continues to move deeper into backwardation.
Equities: The volume of call options on Nasdaq 100 stocks has been surging (boosted by Tesla).
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.
Food for Thought: Top sovereign wealth funds:
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
