Greetings,
United States: US state and local tax receipts have been going to benefit payments rather than investment.
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/US-Net-US-tax-receipts-going-to-benefits2201140436.png)
Asia-Pacific: Australia’s housing credit growth remains exceptionally strong.
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/AS-AU-resi-lending2201140436.png)
Home prices continue to climb.
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/AS-AU-HPA2201140436.png)
China: Country Garden is an investment-grade builder in China. Even some companies that are not excessively leveraged are spooking investors. Country Garden’s share price and bonds are tumbling.
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/CH-Country-Garden-is-an-IG-rated-CO-ST2201140436.png)
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/CH-Country-Garden-is-an-IG-rated-CO2201140436.png)
Equities: Retail investors have been plowing a great deal of money into the markets in recent days. But remarkably, in addition to the broad index ETFs, they’ve been buying value sector ETFs (according to JP Morgan Research). So this rotation is not limited to institutions.
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-Retail-Investors2201140436.png)
Global Developments: Port blockages appear to have peaked.
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/GL-Port-blockages-off-the-highs2201140436.png)
Food for Thought: Mobile apps spending and downloads:
![The Daily Shot Brief – January 14th, 2022](https://thedailyshot.com/wp-content/uploads/VTT-Mobile-apps-spending-and-downloads2201140436.png)
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com