Greetings,
United States: One-year consumer inflation expectations continue to surge, but the three-year indicator seems to have peaked.
Households expect to boost their spending substantially next year.
United Kingdom: The odds of a BoE rate hike this year have collapsed below 20% amid omicron jitters.
In contrast, the Fed is becoming more hawkish, putting downward pressure on the pound.
Eurozone: Natural gas prices hit a record high, …
… and so are German power prices (one year out). These trends will feed into producer and consumer prices in the months ahead.
China: The developer credit crisis continues to spook investors.
Shimao’s bonds tumbled as JPMorgan flagged liquidity concerns.
Commodities: Production of key minerals is concentrated in a handful of countries.
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).
Food for Thought: Changes in state voting rights:
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com
