Greetings,
Equities: The Nasdaq Composite entered correction territory as investors dumped “long-duration” equities.
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-Nasdaq-Correction2201200438.png)
High-multiple growth equities continue to be driven by real rates. Here is the post-IPO portfolio’s correlation with inflation-linked Treasuries.
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-IPO-TIP-Correl2201200438.png)
Cryptocurrency: Crypto-focused stocks have been selling off with bitcoin.
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/BT-Crypro-Cos2201200438.png)
China: The renminbi is grinding higher vs. USD amid strong exports and portfolio inflows.
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/CH-CNY2201200438.png)
Eurozone: German producer prices continue to surge.
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/EZ-GE-PPI2201200438.png)
United States: Mortgage rates are now at pre-COVID levels.
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/US-Mortg-Rate2201200438.png)
Food for Thought: US gun sales:
![The Daily Shot Brief – January 20th, 2022](https://thedailyshot.com/wp-content/uploads/VTP-US-gun-sales2201200438.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com