Greetings,
Equities: It was a rough week for stocks globally.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-GL-Sellloff2201240537.png)
The number of Nasdaq stocks hitting 52-week lows surged.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-Nasdaq-New-52-Week-Lows2201240537.png)
Rates: The US Treasury’s cash balances at the Fed have rebounded sharply after the debt ceiling was lifted. That’s pulling deposits out of the private sector.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/RA-Reserves22201240537.png)
As a result, bank reserves declined sharply in recent weeks. One could think of this process as a form of “quantitative tightening” …
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/RA-Reserves2201240537.png)
… which some view as bearish for stocks.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-Tech-mega-cap-gains-have-coincided-with-central-banks-balance-sheet-expansion2201240537.png)
Energy: International energy stocks are trading nearly 35% cheaper than their US peers.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/EN-International-EN-shares-cheaper2201240537.png)
Cryptocurrency: Bitcoin’s correlation to stocks continues to climb.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/BT-Correl2201240537.png)
United States: Regional Fed presidents are expected to be hawkish this year.
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/US-Regional-Fed-presidents-are-expected-to-be-hawkish2201240537.png)
Food for Thought: Vaccine hesitancy in advanced economies:
![The Daily Shot Brief – January 24th, 2022](https://thedailyshot.com/wp-content/uploads/VTH-Vaccine-hesitancy-in-advanced-economies-AAA2201240537.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com