Greetings,
United States: One-year consumer inflation expectations continue to surge, but the three-year indicator seems to have peaked.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/US-CPI-NY-Fed-Survey2112140523.png)
Households expect to boost their spending substantially next year.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/US-CPI-NY-Spending2112140523.png)
United Kingdom: The odds of a BoE rate hike this year have collapsed below 20% amid omicron jitters.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/UK-BoE2112140523.png)
In contrast, the Fed is becoming more hawkish, putting downward pressure on the pound.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/UK-GBP-to-fall2112140523.png)
Eurozone: Natural gas prices hit a record high, …
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/EZ-AAAA-NG2112140523.png)
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/EZ-AAAA-NG-ST2112140523.png)
… and so are German power prices (one year out). These trends will feed into producer and consumer prices in the months ahead.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/EZ-AAAA-Power2112140523.png)
China: The developer credit crisis continues to spook investors.
Shimao’s bonds tumbled as JPMorgan flagged liquidity concerns.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/CH-Shimao-ST2112140523.png)
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/CH-Shimao-bond2112140523.png)
Commodities: Production of key minerals is concentrated in a handful of countries.
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/CO-Production-of-key-minerals-is-concentrated-in-a-handful-of-countries-ST2112140523.png)
This chart shows China’s and the US’s net reliance on various key minerals, color-coded by country-level concentration (measured by the Herfindahl index).
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/CO-Production-of-key-minerals22112140523.png)
Food for Thought: Changes in state voting rights:
![The Daily Shot Brief – December 13th, 2021](https://thedailyshot.com/wp-content/uploads/VTP-Changes-in-state-voting-rights2112140523.png)
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com