Greetings,
United States: Forget 50 bps. The market is no longer sure about a 25 bps rate hike this month.
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/US-Fed-hikes2203040534.png)
Concerns about the consequences of Russia’s invasion keep markets on edge. Russia’s attack on the nuclear power plant sent Treasury yields sharply lower.
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/CO-Fire-ST2203040534.png)
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/US-10y2203040534.png)
Eurozone: Market-based inflation expectations are soaring.
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/EZ-GE-10-BE2203040534.png)
Emerging Markets: Ukrainian bonds and the hryvnia have plummeted since the invasion.
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/EM-Ukraining-bond-prices2203040534.png)
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/EM-Ukrainian-hryvnia2203040534.png)
Equities: Cyclicals continue to tank relative to defensive sectors.
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-Cyclicals-defensives2203040534.png)
Credit: Helped by energy names, high-yield debt continues to outperform investment-grade bonds.
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/CR-HY-Outperforming2203040534.png)
Food for Thought: GDP per capita vs. life expectancy:
![The Daily Shot Brief – March 4th, 2022](https://thedailyshot.com/wp-content/uploads/VTC-GDP-per-capita-v-life-expectancy2203040534.png)
Edited by Daniel Moskovits
Contact the Daily Shot Editor: Editor@DailyShotLetter.com